GoJek, a Southeast Asia’s on-demand multi-service platform and digital payment technology group, announced that it has raised investments from Facebook and PayPal.
Facebook and PayPal join other high-profile technology firms that have backed the ride-hailing startup that also offers food delivery and mobile payments.
According to TechCrunch, GoJek said that Facebook and PayPal were participating in its ongoing Series F financing round, which brings its total raise-to-date to over $3 billion.
Matt Idema, chief operating officer at WhatsApp, said the company will work with “indispensable” GoJek to “bring millions of small businesses and the customers they serve into the largest digital economy in Southeast Asia.”
“The majority of small businesses in Indonesia rely on cash to operate due to the country’s large unbanked population. Digital payments are safer than cash, both for businesses and customers. And digital payments help more people participate in the economy and give businesses access to credit which is crucial for business growth,” he wrote in a blog post. Indonesia is one of the biggest Asian markets for Facebook.
Facebook said that the investment will “support Facebook and Gojek’s shared goal of empowering businesses and driving financial inclusion across the archipelago.”
PayPal said that the commercial partnership will enable the global payments giant to “significantly grow” its scope and scale in Southeast Asia.
“This new relationship is another positive step in our journey towards becoming the worldwide payments partner of choice, and helping to fuel global commerce by connecting the world’s leading marketplaces and payment networks,” PayPal said in a statement.
“We have the opportunity to achieve something truly unique as we aim to help more businesses to digitise and ensure that many millions more consumers are enjoying the benefits that the digital economy can bring,” said Andre Soelistyo, who was appointed as co-chief executive of GoJek last year, in a statement.
Gojek Group now operates in 207 cities in 5 Southeast Asian countries (Indonesia, Vietnam, Singapore, Thailand, and the Philippines by acquiring a fintech company Coins.ph).
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