Go-Jek closes Tencent-backed Series F funding round, reportedly raises over US$1bn

Indonesian ride-hailing firm Go-Jek has announced the closing of its Series F funding round, backed by Tencent, JD.com, Mitsubishi, and Google

According to TechNode and the Straits Times, industry sources have said the Series F round has closed at around $1bn with an overall company valuation of around $9.5bn.

In its February 1 press release said the funding places Go-Jek in a strong position to capitalise on Southeast Asia’s booming digital economy, which is set to reach a value of $240bn by 2025, through the scalability of the Go-Jek ecosystem.

See more:


Go-Jek also highlighted the opportunity for growth in the payments and financial services spaces, citing the World Bank 2016 report on ASEAN financial inclusion which found that around half of the region’s adult population does not use banks and thereby has a significant cash reliance.

“GOJEK is a truly unique investment. It is the most compelling way for investors to participate in the early stages of Southeast Asia’s transformation into a digital economy, as evidenced by our rapid rise and continued market leadership in the region’s largest market, Indonesia,” said Go-Jek Group President Andre Soelistyo in the firm’s press release.

“GOJEK’s mission is to use technology to solve consumers, drivers and merchants’ everyday problems and through strategic partnerships with global technology leaders, we are in an even stronger position to deliver innovative products and experiences to millions of people across Southeast Asia.” 

Share

Featured Articles

How India is bucking the global dealmaking downturn

M&A deal volume and value reach record highs in India in 2022, despite slower dealmaking globally – as scope activity and acquisitions in renewables surge

Create C-suite space for the Chief Transformation Officer

Responsible for driving growth and change, the Chief Transformation Officer is the latest addition to the C-suite as business undergoes major change

12 AI predictions for the enterprise in 2023 – Dataiku

With 2023 likely to be a huge year for AI, experts from AI platform provider Dataiku deliver their enterprise AI and ML trends for the year ahead

Welcome to the new breed of private members' clubs

Leadership & Strategy

Welcome to the New Age of the CISO

Leadership & Strategy

Making the UAE the world’s strongest digital fortress

Technology