Popular tech giants Facebook and PayPal have invested in Indonesia’s ride-hailing and digital payment startup Gojek. The duo joins existing Gojek backers tech giants Google and Tencent.
This investment will boost Southeast Asia’s digital economy, with a focus on supporting digital payments and fintech services in the region,” the tech companies announced.
More importantly, the tech companies did not close the investment in the Gojek startup.
In 2010 Gojek started as a motorcycle ride-hailing call center, they launched an app five years later it turned into a super-app providing a variety of services that include deliveries, takeaway food & financial services.
Facebook stated it has made its first investment in Indonesia as it seeks opportunities for small businesses in the country, including its WhatsApp service.
Matt Idema, chief operating officer at WhatsApp, said that “Gojek, WhatsApp, and Facebook are indispensable services in Indonesia,”
“Working together we can help bring a large number of small businesses and the customers they serve into the largest digital economy in the region.”
Paypal said this commercial partnership with Gojek will enable to significantly grow PayPal’s scale in southeast Asia’s market
Gojek says that is has connected with a large number of traders on its platform. And also providing access to more than 170 million users in the region.
In March, Gojek raises $1.2 billion for expansion, as per Bloomberg. And the valuation at about $10 billion by analysts CB insights.