Indonesian online to offline (O2O) mobile platform Grab Holdings has raised $2 billion in its latest fundraising round.

Toyota Motor Corporation joined the likes of OppenheimerFunds, Ping An Capital, Mirae Asset Management, Cinda Sino-Rock Investment Management Company, All-Stars Investment, Vulcan Capital, Lightspeed Venture Partners and Macquarie Capital.

Grab will use the funds to expand the range of O2O services it provides in Southeast Asia, aiming to become the central app of choice for millions across the region. Currently, Grab users can pay merchants through GrabPay, order food through GrabFood, send parcels through GrabExpress, or hail rides with Grab’s range of transport services.

A significant portion of the current fundraise will be invested in Indonesia, where it is the leading on-demand transport booking company. Grab has over 7.1 million micro-entrepreneurs on its platform, more than half of which are in Indonesia.

Through Grab’s partnership with local wallet and rewards programme, OVO, it has formed the country’s most widely accepted mobile payments ecosystem, with more than 60 million downloads.

Last month, Grab launched its vision to become a ‘super app’ of choice through its open platform strategy, announcing GrabFresh, an on-demand grocery delivery service in Jakarta, with other cities to follow later this year.

Ming Maa, president of Grab, hailed “overwhelming interest” from global strategic investors and partners which are keen to capture the region’s “booming growth”.

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