Two American giants, Facebook Inc., (NasdaQ: FB) and Paypal Holdings Inc., have joined other global tech players like Google, Tencent and other investors of Indonesian digital firm, GoJek in its current fundraise - Photo by the Company

JAKARTA (TheInsiderStories)Gojek, Indonesia’ mobile on-demand platform, and digital payment get an investment from Siam Commercial Bank (SCB), Thailand’s largest lender by assets. This investment is part of Gojek’s Series F Funding Round, management said in a written statement on Friday (07/12).

Through this collaboration, the company will develop Gojek affiliates in Thailand, Get, to more reliable digital payment system and more dynamic ecosystem for users and business partners in Thailand. This collaboration will facilitate Get the driver to open SCB accounts at the Get Driver Partner Training Center and provide them with access to a variety of financial services, such as funds and insurance loans.

SCB and Get will work together to improve financial understanding or literacy among driver-partners, help them plan savings, and equip them with knowledge regarding essential financial products. This collaboration will also be followed by developing solutions for both Get merchants and SCB merchant customers so that they can grow their business on digital platforms.

This collaboration will give benefit to Get users because of the convenience offered in topping up Get Pay credit, a digital wallet service. SCB customers will also benefit from cooperation with Get, including through various promotions and discounts on food and financial services delivery services.

Head of International Gojek Andrew Lee said Gojek and SCB shared the same view of using technology to improve the quality of life of consumers, driver-partners, and merchant partners.

“This is what makes us so enthusiastic about welcoming SCB as an investor. This collaboration with SCB shows investor confidence in our business strategies in various countries along with our efforts to continue to develop business models and operational activities in Thailand and various other regions,” he said.

As for Get, which was inaugurated in Bangkok in February 2019, it has become one of the leading companies for food and transportation delivery services in Thailand. CEO of Get Pinya Nittayakasetwat said, Get is overgrowing, but this is only a start because the penetration of transportation services and food delivery is still low when compared to the opportunities on the market.

“We welcome the collaboration with SCB because it will help Get to expand its reach and provide more convenience for our users, “he said.

President of SCB Arak Sutivong said SCB’s strategy was focused on developing competitive advantages so that they could grow beyond normal limits. “We see this strategy can be achieved through Digital Fund Loans in the retail sector, MSMEs and wealth management, as well as through the transformation of business models. Our investment in Gojek is one example of this strategic decision,” he said.

Last year, Gojek expanded into Thailand by providing motorbike-hailing and on-demand delivery services through the Get app. Its services are considered to compete directly with Singapore-based Grab.

Gojek’ Get has 20,000 motorcycle drivers for food and parcel delivery and 20,000 restaurant partners, with 1 million downloads in Thailand. SCB Easy, the bank’s mobile banking app, has more than 9 million users.

Co-president of SCB Apiphan Charoen-­ anusorn said the bank plans to offer banking services and financial solutions to related parties under Get’s reliable platform. The bank plans to start offering digital lending services to Get drivers in the fourth quarter this year.

Initially, SCB expects to provide personal loans for motorcycle purchases and educational loans through digital channels to around 10,000 Get drivers.

SCB also offers several promotional campaigns for food delivery via Get. Get provides four services: Get Win (motorcycle taxi stand), Get Food, Get Messenger, and Get Pay e-wallet (still in beta). Get plans to open ride-hailing services if the new government legalizes such services.

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