Google, Tencent, JD.com to inject more than US$900M in Go-Jek
Go-Jek, the ride-sharing startup from Indonesia has reportedly continued its fundraising push, setting its goal at raising US$2 billion. It is reported that its existing investors like Google, Tencent, and JD.com all have agreed to invest around US$920 million into the latest round.
The company hasn’t released any official statement yet regarding the fundraising, which reportedly will put the company’s valuation at around US$9.5 billion.
The funding is said to be directed towards regional expansion that was kickstarted last year. It will also be used to push fintech development.
Just last year, Go-Jek closed a US$1.4 billion round with valuation at US$5 billion.
The deal is said to also feature the acquisition of JD.com’s Indonesian counterpart, JD.id.
If the acquisition is to take place, Go-Jek would have a solid position among the country’s infamous e-commerces unicorns like Tokopedia and Bukalapak.
Last year Go-Jek expanded into to Vietnam, Thailand, and Singapore. It recently acquired Coins.ph as a bid to enter the Philippines. It is claiming a record of 125 million downloads with over a million drivers.
Kevin Aluwi, Go-Jek’s co-founder, told Reuters that total transactions on its platforms crossed $12.5 billion last year.