Grab Boss: We will grow without raising any more capital!

The ride-hailing app chairman Grab is optimistic about the company’s prospects. He confirmed that Grab will still achieve steady growth despite the doubts related to “unicorns” – startups worth $ 1 billion or more.

“We do not currently need to raise new capital to create a stable business,” Chairman Ming Maa said in a recent interview with Nikkei.

Grab has raised a lot of money from venture capital firms like Softbank or Toyoa and Honda. Maa joined Grab and assumed the position of President in 2016.

“We are really profitable in many key markets. We are very satisfied with the current balance sheet. No need to raise more capital, we have a clear path to create.” a sustainable business “.

However, Maa said that Grab is still welcoming new investments. “There are still many investors interested in the Southeast Asia market through the cooperation with Grab so we always consider these cases. Finally, if there is such a cooperation, we We believe that will create a huge amount of value for our customers and partners. ”

The market is still very cautious with the unicorns. Last year, We Company, the parent company of WeWork, fell into a difficult situation after being forced to postpone its IPO plan. Shares of Uber and Lyft still plummeted on New York.

Grab is attracting customers in Southeast Asia by developing a “super app” – giving people access to a range of services including ride-hailing, food delivery and online payment through a single app. Best.

Grab has been involved in many new businesses in the last few years. Late last year, they applied for an online banking business license in Singapore. The company is also working with Softbank to invest in smart cities and electric vehicles.