Gojek Reportedly Receives New Funding Worth 13 Trillion Rupiah from Google, Tencent, and JD.com
Starting off this year with $2 billion funding target
Randi Eka - 28 January 2019
Gojek, a ride sharing fintech service is reportedly to raise a new funding round, targeting up to $2 billion. It’s necessary to facilitate regional expansion and penetration improvement of the fintech service.
Some of the previous investors are involved in the seed round – include Google, Tencent, and JD.com – with value up to $920 million (around 13 trillion rupiah).
This week, Gojek is reportedly to make an official statement. In the new round, Gojek’s valuation should have reach $9.5 billion – close to Decacorn. Previously, some news are reporting Telkom’s plan to invest in Gojek, but until now, there’s no following information regarding the rumor.
JD.com contribution in the follow-on funding tightens strategic cooperation. Entering the end of last year, Gojek is rumored to make an acquisition of JD.id business unit in indonesia with a value of $1 billion. Until this news revealed, the plan has not been realized.
Control to JD.id should be Gojek’s golden step to enter the e-commerce landscape in Indonesia which currently dominated by four unicorns, Bukalapak, Lazada, Shopee, and Tokopedia. Aside from ride-sharing, Gojek will maximize fintech potential through Go-Pay.
The strategic step is necessary because Grab as competitor is actively raising fund. In 2018, they targeting total funding up to $3 billion. Some investors are involved in this funding, include the three top-tier automotive companies, Hyundai, Kia, and Yamaha.
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Original article is in Indonesian, translated by Kristin Siagian