Southeast Asia
taxi app
GrabTaxi

GrabTaxi Raises $15M Series B Led By GGV Capital

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GrabTaxi, the taxi-calling app that claims to be the largest in Southeast Asia, said today that it has raised a $15 million Series B led by GGV Capital with participation from Qunar and returning investor Vertex Venture Holdings. The latter led GrabTaxi’s Series A round, which was announced last month; though the amount was undisclosed, CEO Anthony Tan said it was more than $10 million. GGV Capital managing partner Jixun Foo will also join GrabTaxi’s board of directors.

Though GrabTaxi competes in the same space as Uber and Rocket Internet’s EasyTaxi, both of which are targeting Southeast Asia, Tan told TechCrunch last month that demand in cities in Singapore and Bangkok is high enough to support several taxi-calling startups.

In a statement, GrabTaxi said its Series B round will be used to fuel GrabTaxi’s growth into new cities in Southeast Asia, as well as driver loyalty and retention programs. It currently operates in Malaysia, the Philippines, Thailand, Vietnam, and Singapore, with about 20,000 drivers registered. The startup says that the app has been downloaded 1.2 million times and more than 250,000 passengers in 15 cities use the app at least one month to hail a cab.

In a statement, Foo said “We are excited about working with Anthony and his team. Their focus and understanding of local markets will fuel their success and provide competitive advantage. Therefore we believe that GrabTaxi for Southeast Asia and Didi for China will be the go-to transport app in their regional markets.”