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GrabTaxi is about to get US$200 million in fresh capital, pegging its valuation at US$1.5 billion, as per a report by The Wall Street Journal.

It quotes “a person familiar with the situation”, who has shared that the round is being led by US hedge fund Coatue Management LLC.

The source also mentioned that existing investors SoftBank and Tiger Global Management are also going to participate in the round.

The report further revealed, “GrabTaxi could increase the size of the round with the inclusion of additional investment in coming weeks.”

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GrabTaxi’s last funding, a then record-breaking US$250 million round, happened just seven months ago in December 2014 on the back of strong regional growth that saw the company become a dominant player in the taxi booking space in this part of the world.

At the moment, is important to note that while the Wall Street Journal is a very credible source, GrabTaxi has said nothing about this investment, and has declined our request for a comment.

Image Credit: Bloomberg News