Facebook and PayPal have made investments in GoJek, joining Google and Tencent among other high-profile technology companies that have backed the five-year-old Southeast Asian ride-hailing firm.
Facebook, for which it is the first investment in an Indonesia-based firm, and PayPal did not disclose the size of their checks. GoJek told TechCrunch that Facebook and PayPal were participating in its ongoing financing round, which brings it total raise-to-date to over $3 billion.
For Facebook, which in April invested in India’s top telecom operator Reliance Jio Platforms, backing GoJek unlocks a similar opportunity: Helping millions of small businesses.
Matt Idema, chief operating officer at WhatsApp, said the company will work with “indispensable” service GoJek to “bring millions of small businesses and the customers they serve into the largest digital economy in Southeast Asia.”
PayPal said the commercial partnership will enable the global payments giant to “significantly grow” its scope and scale in Southeast Asia. “This new relationship is another positive step in our journey towards becoming the worldwide payments partner of choice, and helping to fuel global commerce by connecting the world’s leading marketplaces and payment networks,” a spokesperson said.
More to follow…