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Allianz X Announces 481 Billion Rupiah Investment for Go-Jek

Allianz X's initial investment in Southeast Asia

Marsya Nabila - 12 April 2018

Allianz Group, German-based insurance company announces an investment of $35 million (about Rp481 billion) for Go-Jek, through its investment arm for digital business, Allianz X.

The investment is part of the round joined by Blibli, Astra, Google, Tencent, JD, Meituan and Temasek worth around US$ 1.5 billion. Allianz to be the only international-scale insurance company as Go-Jek's shareholder.

Nazim Cetin, CEO of Allianz X said in an official release that this is the first investment for a SEA-based company, the fourth throughout the year.

"Allianz X's strategic investment in Go-Jek emphasized on our commitment to digital business growth, particularly in developing countries. Go-Jek has demonstrated a successful track record in transportation, logistics, and payment sectors. We're very willing to support the further developments," he said (4/11).

Joos Louwerier, Allianz Life Indonesia's President Director added, both companies will tighten relationships through various partnerships that soon to be launched. It will offer a range of unique financial products and services for Go-Jek's community and customers.

Both companies have already partnered since two years ago. Allianz Indonesia provides health insurance to Go-Jek's driver-partners. The service then expanded in providing health insurance for their families.

Currently, Go-Jek has acquired over 1 million drivers in 50 cities throughout Indonesia.

Original article is in Indonesian, translated by Kristin Siagian

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