SINGAPORE (Feb 1): Gojek announced Friday it has finalised the first closing of its ongoing Series F funding round, led by Google, JD.com and Tencent. Other investors include Mitsubishi Corporation and Provident Capital.
The start-up did not disclose the amount raised, but says the new round demonstrates investor confidence in Gojek’s position as Southeast Asia’s largest mobile on-demand service and payments platform on a gross transaction value (GTV) basis.
As at end 2018, the group says it has annualised GTV across all markets amounting to more than US$9 billion ($12.1 billion) and annualised transaction volumes of 2 billion.
The funds raised will be used to deepen Gojek’s market penetration in Indonesia, and strengthen its presence in the region following its recent expansion into Singapore, Vietnam and Thailand.
Following the close of the Series F round, Gojek says its founders will continue to maintain control over the decision-making and direction of the company.
“By focusing on solving problems for our users and partners, Gojek has successfully pioneered the multi-sided platform model where millions of people can consume services that address their most frequent daily needs and where businesses and entrepreneurs can access those consumers, grow their incomes and at the same time gain access to crucial financial services,” says Nadiem Makarim, Gojek’s Group CEO.
“As we expand internationally, we are excited to extend our vision to more countries and at the same time put Indonesia on the map as a regional hub for tech innovation,” he adds.
Gojek on Friday also announced it is furthering its strategic partnership with JD.com’s Indonesia e-commerce joint venture, JD.id, and last mile delivery logistics joint venture, J-Express (JX), to enhance end-to-end logistical capabilities and e-commerce services in Indonesia.
JX will collaborate with Gojek’s crowdsourced courier network to provide customers with logistics coverage across Indonesia.
The partnership will also involve collaborations in payment solutions, marketing, and IT with JD.id, enabling the e-commerce platform to offer quality products and services to more Indonesian consumers.
“This investment demonstrates our continued confidence in Gojek’s business and growth potential,” says Jon Liao, JD.com’s chief strategy officer. “With a dedicated JD.id entry point on Gojek’s mobile app, 27 million monthly active Gojek users will have direct access to JD.id’s high-quality e-commerce offering.”
“As JD.com expands its presence in the region, we look forward to working together with Gojek to deliver innovative retail, logistics and consumer solutions across the region,” he adds.
