Asia’s ride-hailing startup Grab raises £156m

Southeast Asia’s ride-hailing startup grab has raised £156m ($200m) from US-based travel firm Booking Holdings formerly known as Priceline, as part of a strategic partnership.

The deal will enable users to book travel-related services through Grab’s app and pay via its digital wallet.

Grab’s investment drive is expected to reach £2.34bn ($3bn) before the year ends.

Grab raised $2bn for the round including a $1bn from Toyota and bought Uber’s regional business in March and is present in eight countries valued at $11bn.