Grab Holdings, Inc. has raised $2 billion in new funds to finance the expansion of its online-to-offline (O2O) services in Southeast Asia as well as to further increase its investment in Indonesia.

“Grab will use the funds to expand the range of O2O services it provides in Southeast Asia and to grow into becoming the everyday super app of choice for millions in the region,” Grab said in a statement released to the media on Friday.

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