Ride-hailing unicorn-turned-on-demand service and payment platform GOJEK has confirmed the first closing of the ongoing Series F fundraising, with Google, JD.com, and Tencent leading the round. Joining the three are Mitsubishi Corporation and Provident Capital, among other investors.
The company said that the proceeds will be used to enhance GOJEK’s market leadership in Indonesia across transport, food delivery, logistics, mobile payments, and merchant services. Plus, it will be used to drive continued expansion across other markets in Southeast Asia. Its regional footprint includes the recent introduction of GOJEK in Singapore, GO-VIET in Vietnam, and GET in Thailand.
Leading the market with its digital payment GO-PAY and food delivery GO-FOOD, it is reported that GOJEK’s current gross transaction value (GTV) across all markets amounting to more than US$9 billion with transaction volumes of two billion at the end of 2018.
“By focusing on solving problems for our users and partners, GOJEK has introduced the multi-sided platform model where millions of people can consume services that address their most frequent daily needs and where businesses and entrepreneurs can access those consumers, grow their incomes and at the same time gain access to crucial financial services,” said Nadiem Makarim, GOJEK Group CEO.
With the investment from JD.com, GOJEK has cemented its strategic partnership with JD.com’s Indonesia e-commerce joint venture, JD.id and its last mile delivery logistics joint venture, J-Express (JX) to enhance end-to-end logistical capabilities and e-commerce services in Indonesia.
“With a dedicated JD.id entry point on GOJEK’s mobile app, 27 million monthly active GOJEK users will have direct access to JD.id’s high-quality e-commerce offering. As JD.com expands its presence in the region, we look forward to working together with GOJEK to deliver innovative retail, logistics and consumer solutions across the region,” said Jon Liao, JD.com Chief Strategy Officer.
“Our investment in GOJEK is an important milestone for Tencent in Southeast Asia. GOJEK has maintained leading market share and high growth in its core businesses, while making meaningful progress in new verticals. This additional investment will strengthen our alliance with GOJEK in fast-growing Southeast Asia and enable Tencent to broaden its partner cooperation more globally,” said Martin Lau, President of Tencent on Tencent’s investment.