Google plans to finance Indonesian ride-hailing company Go-Jek
Date: 2018-01-29   Author: Pankaj Singh  Category: #industry

Google plans to finance Indonesian ride-hailing company Go-Jek

In a bid to be a part of Indonesia’s growing digital economy, tech giant Google has announced that it plans to invest a substantial amount in the country’s primary ride-hailing company, Go-Jek. So far, state reports, Google has not disclosed the actual amount of investment. Through this initiative, the company apparently is looking forward to targeting its billion-user base across the globe.

As per reliable sources, this move is likely to emerge beneficial for Indonesian start-up companies to tap into digitalization and the internet cosmos, using Google’s first-class technical assistance. The VP of Google, Caesar Sengupta, has been quoted stating that Go-Jek has used its technology to make the life of the common Indonesian citizen much more convenient, courtesy – the firm’s strong management team. Furthermore, he also added that this investment has enabled the company to sign on a lucrative deal with one of the local Indonesian start-ups.

Though Google has not yet disclosed the actual investment, sources claim that the amount is a part of the USD 1.2 billion worth fundraising strategy of the company. As per reports, Google seems to have provided financial aid to the Indonesian start-up group through this fundraiser, which is likely to prove rather beneficial for Go-Jek to deal with its rival, Uber mainly across Indonesia.

Reports cite that prior to this agreement, Go-Jek acquired financial technology companies comprising Mapan, payment gateway Midtrans, and offline payments service Kartuku in order to dominate the digital payment industry of Indonesia. These acquisitions apparently helped Go-Jek improve its offline and online payment service facilities and also aided the firm to increase its involvement in the payment sector of Indonesia.

Meanwhile, the President of Go-Jek, Andre Soelistyo, has been quoted claiming that the acquisition of financial companies is certain to accelerate the involvement of millions of Indonesians stimulating the economic productivity of country.



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Pankaj Singh

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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