Grab, a Singapore-based ride-hailing services provider, is aiming to raise another $1 billion by the end of 2018.
This comes shortly after Grab pocketed $2 billion from investors including Japanese automotive manufacturer Toyota and New York-based asset management firm OppenheimerFunds.
The company said in the statement that it is counting on its massive consumer database to further drive up valuations and is worth as much as $10 billion.
Last week, Grab launched Grab Ventures in Indonesia, setting aside $250 million to invest in local startups.