CEO GOJEK Nadim Makarim
CEO GOJEK Group Nadiem Makarim with Indonesia' President Joko Widodo - Photo by President Office

JAKARTA (TheInsiderStories) – Indonesia’ unicorn GOJEK just completed the first round of the Series F funding led by Google, JD.com and Tencent Holdings, Mitsubishi Corporation, and Provident Capital, told the company on Friday (02/01). The ride-hailing provider seeks US$2 billion funds in several stages.

In 2018, GOJEK has raised $1.5 billion in venture capital funding from investors included Google, Blackrock, local conglomerate firm PT Astra International Tbk (IDX: ASII), and others investors.

GOJEK Group CEO Nadiem Makarim, said in a written statement today (01/02) that his party will always create things that are beneficial for Indonesia and provide positive social impacts through technology through the funding.

He revealed, the funds will be used to strengthen GOJEK‘ leadership in the Indonesian market especially in transportation services, food delivery, logistics, digital payments, and services for merchants, and to continue to encourage expansion into other Southeast Asian countries.

Makarim noted, this investment shows investors’ confidence in GOJEK’s business growth opportunities supported by the rapid growth of the digital economy in Southeast Asia which is expected to reach $240 billion by 2025, as well as the provider’ ability to realize its growth potential through expanding its unique ecosystem model.

GOJEK is also the largest mobile on-demand and digital payment platform in Southeast Asia with a total gross transaction value (GTV) of more than $9 billion and a total transaction volume of a year reaching 2 billion at the end of 2018.

This performance reinforces GOJEK’ leadership in digital payment services GO-PAY and food delivery GO-FOOD. The GO-PAY ecosystem processes $6.3 billion GTV, while GO-FOOD processes $2 billion in GTV in 2018, making GO-FOOD the largest food delivery service in Southeast Asia.

GO-FOOD in Vietnam has become a major player among other similar food delivery services in just two months after being launched in Ho Chi Minh and following in Hanoi. In Singapore, the beta version of GOJEK has been open to all communities since January 2019.

“This is the most interesting way for investors to participate in the initial stages of transforming the digital economy in Southeast Asia towards a digital economy,” said GOJEK Group President Andre Soelistyo

Meanwhile, the General Manager of Payments and Vice-President Leading the Next Billion Users Initiative of Google Caesar Sengupta comments, “We believe in their vision, and are committed to continuing to support the innovation and economic growth they do. This is why we are very passionate about supporting GOJEK.”

Furthermore, GOJEK also continues its strategic partnership with JD.com in Indonesia, namely JD.id and J-Express to develop logistics capabilities and e-commerce services from upstream to downstream in Indonesia. JD.com Chief Strategy Officer Jon Liao, showed high confidence in the business prospects developed by GOJEK in the future.

With access to the JD.id platform on the GOJEK mobile application, as many as 27 million active users per month GOJEK will have direct access to quality products offered by the e-commerce platform JD.id.

Meanwhile, Tencent President Martin Lau, said that investing in GOJEK will have an important impact on his company in Southeast Asia. He stated: “This additional investment will strengthen our collaboration with GOJEK in Southeast Asia, whose economy is growing rapidly and enables the expansion of Tencent’ partnership on a global scale.”

As informed, GOJEK and its affiliates operate in five countries covering 204 cities and districts and have a network of more than 2 million driver partners and 400,000 merchant partners in Southeast Asia.

Written by Daniel Deha, Email: theinsiderstories@gmail.com