Visa Gets Involved in Gojek’s Series F Funding

The amount is undisclosed, focusing on collaboration with Gopay

Randi Eka - 17 July 2019

Visa today (7/17) announced to take part in Gojek’s series F funding. There’s no further information of the amount, both companies are to collaborate for non-cash payment options in Southeast Asia.

“We’re glad to have this partnership, Visa and Gojek shared the same vision. We (Visa and Gojek) wants to make your daily life easier by facilitating people to pay and be paid,” Visa’s Regional President APAC, Chris Clark.

Visa is to take more chances with Gopay for collaborations, including to expand coverage for unbankable and SMEs. It was also said by Go-Pay’s CEO, Aldi Haryopratomo. He wants to include Visa in adopting the developing payment platform for better reach throughout Southeast Asia.

Earlier in the same month, Siam Commercial Bank is said to participate in Gojek’s funding. The Series F round aims for $3 billion, participated also from JD, Tencent, Google, Astra International, Mitsubishi Corporation, Siam Commercial Bank, and Visa.

High-tension business competition

Another point of view to consider is about those competing in the super app game with the ambition to win the SEA market. Grab has announced a deal with Mastercard for strategic partnership in terms of payment last October. The first step is to launch a virtual credit card targeting Grab’s users in Southeast Asia.

In terms of Thailand’s digital market, Siam Commercial Bank prefers to invest in Gojek, while Kasirkornbank has participated in Grab’s fundraising. It’s getting more relevant when Yamaha Motor invests in Grab and Mitsubishi Motor to Gojek.

Super app has become a magnet that attracts companies to strive for winning the moment of tech consumer’s shifting trend with Gojek and Grab as the “vehicle” in the regional transition.

Original article is in Indonesian, translated by Kristin Siagian

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