Photo courtesy of Go-Jek

JAKARTA (TheInsiderStories) – Allianz X, the digital investment arm of the Allianz Group, has announced a $35 million investment in Indonesian ridehailing platform GO-JEK, the company said in a statement on Wednesday (04/12).

This investment is Allianz X’s first investent in a Southeast Asian-headquartered company and it made Allianz Group to become GO-JEK’s sole international insurance shareholder.

“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,” said Nazim Cetin, CEO of Allianz X.

“Allianz X’s decision to invest in GO-JEK is a testament of the Allianz Group’s strategic direction to support digital ventures,” said Joos Louwerier, President Director of Allianz Life Indonesia.

“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.”

Headquartered in Jakarta, GO-JEK started as a ride-hailing app in 2010 and evolved into an on-demand mobile platform that provides a wide range of services including logistics, transportation, e-payments, and food delivery, among others.

According to the statement GO-JEK connects its users to one million registered drivers on the app who are serving customers in more than 50 cities in Indonesia. The app also connects users to more than 150,000 food vendors, and more than 30,000 other services.

Until February 2018, GO-JEK app has been downloaded by more than 77 million times.

Allianz Indonesia and GO-JEK commenced a strategic partnership two years ago, whereby Allianz Indonesia provided health insurance services to GO-JEK drivers.

In 2017, this offering was expanded to allow GO-JEK drivers to purchase health insurance for their families.

GO-JEK’s investment is expected to increase access to insurance products and services for GO-JEK’s customers.

GO-JEK now operates in 50 cities, including Jakarta, Bandung, Surabaya, Bali, Makassar, Medan, Palembang, Semarang, Yogyakarta, Balikpapan, Malang, Solo, Manado, Samarinda, Batam, Sidoarjo, Gresik, Pekanbaru, Jambi, Sukabumi, Bandar Lampung, Padang, Pontianak, Banjarmasin, Mataram, Kediri, Probolinggo, Pekalongan, Karawang, Madiun, Purwokerto, Cirebon, Serang, Jember, Magelang, Tasikmalaya, Belitung, Banyuwangi, Salatiga, Garut, Bukittinggi, Pasuruan, Tegal, Sumedang, Banda Aceh, Mojokerto, Cilacap, Purwakarta, Pematang Siantar, and Madura.