Allianz invests $35mn into Indonesia's Go-Jek

Allianz Group’s digital investment arm, Allianz X, is investing $35mn in Indonesian startup Go-Jek.

Allianz has become the sole insurance shareholder of Go-Jek. The multinational insurance company hopes to expand its footprint in emerging markets and in the area of digital business.

Go-Jek’s existing partnership with Allianz Indonesia has been strengthened as a result of the investment.

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Go-Jek, Indonesia’s leading ride-hailing company, also offers other digital services such as e-payment services. It also has transport and logistics offerings.

This will be Allianz’s first investment in a Southeast Asian company. The investment was announced in a statement on the company website.

Nazim Cetin, CEO of Allianz X stated: “Allianz X’s strategic investment in Go-Jek underscores Allianz Group’s Renewal Agenda and out commitment to digital growth businesses, particularly in emerging markets. Go-Jek has demonstrated a track record of success within the transportation, logistics and payment sectors and we look forward to supporting their continued growth.”

Joos Louwerier, President Director of Allianz Life Indonesia also added: “Go-Jek is an absolute digital unicorn in Indonesia and through this investment, Allianz and Go-Jek will strengthen their ties and collaboration further. Together we can offer unique financial products and services to the wider Go-Jek community.”