Ride-sharing service Grab expects US$2.5 billion funding injection as it prepares to go head-to-head with Uber

Southeast Asian ride-hailing service Grab expects to raise US$2.5 billion in a record round of fundraising to cement its lead over Uber Technolgies in the region and grow its payments platform.
Southeast Asia has become a key battleground for technology startups vying for a market of more than 600 million people, with a burgeoning middle class as well as a youthful, internet-savvy demographic.
Grab’s Chinese peer Didi Chuxing and Japan’s SoftBank Group, both of which are existing…