Facebook, PayPal Join Indonesian Giant Gojek's Growing List of Investors

KOMPAS.com – Facebook and PayPal have injected fresh funds into Indonesian start-up Gojek.

Google and Tencent earlier also sunked funds into the Indonesian ride-hailing giant.

For Gojek Co-CEO Andre Soelistyo, investors Facebook, PayPal, Google, and Tencent’s presence illustrates how the world’s most innovative tech companies view the positive impact the start-up has had in Indonesia and Southeast Asia.

Read also: Anies Baswedan: Coronavirus Pandemic Shows Benefits of Digital Technology

As part of the investment, PayPal and WhatsApp Pay will be integrated into the Gojek application.

Facebook said that its investment in Gojek aims to empower Indonesian small and medium enterprises (SMEs).

The tech giant’s other goal is to find a partner to expand its WhatsApp platform.

Gojek is estimated to have received new funding worth $3 billion or around Rp 42 trillion. Last March, the Indonesian ride-hailing giant managed to raise $1.2 billion.

“Through the partnership, we truly have the opportunity to achieve something unique in line with our efforts to support a growing number of businesses turning to digitalization channels as well as ensuring millions of customers feel the benefits of the digital economy,” wrote Gojek’s Andre on June 3.

The investments are hoped to further propel the growth of Gojek’s payment system in Southeast Asia which has approximately 170 million users.

“This partnership is our way of supporting the trade sector globally via the digital payment system,” wrote a PayPal spokesperson.

The addition of PayPal and Facebook as Gojek’s investors further strives to empower Southeast Asian SMEs that predominantly rely on cash transactions as many do not have access to banking services.

Read also: Ministry of Tourism’s #BeliKreatifLokal Campaign to Support SMEs

Supporting the growth of SMEs has long been associated with Gojek’s core business as reaffirmed by Gojek Co-CEO Kevin Aluwi.

WhatsApp’s Chief Operating Officer Matt Idema wrote on a Facebook blog that WhatsApp and Gojek will “bring millions of people into Indonesia’s growing digital economy.”

“Right now, a number of the world’s top-tier tech companies are our partners. We believe that we can offer world-class products and services to all parties within Gojek’s ecosystem,” said Kevin.

All four investors - Facebook, PayPal, Google, and Tencent - together with Gojek are committed to accelerating the growth of Southeast Asia’s digital economy with a focus on financial and payment services. 

(Writer: Conney Stephanie | Editor: Reska K. Nistanto) 

Source: https://tekno.kompas.com/read/2020/06/03/09590107/facebook-dan-paypal-tanam-modal-di-gojek