FB and Paypal Join Other Large Tech Investors in Gojek
Gojek announced today that Facebook and PayPal have joined Google, Tencent, and many as investors in the Indonesian-based app for ordering food, buying, shopping, commuting, and paying digital payments across Southeast Asia.
This is great validation that the worldwide most innovative technology firms recognize the positive impact Gojek is making,” said by Gojek Co-CEO, Andre Soelistyo.
Financial information was not disclosed regarding the investment, but Gojek told that funding from Facebook and PayPal were part of the brand’s ongoing Series F financing round, which brings it total raise-to-date to over $3 billion.
According to Facebook, it is “excited to invest in Indonesia’s future as the largest digital economy in Southeast Asia.” According to a 2019 study by Google, Temasek and Bain & Company, Indonesia is home to Southeast Asia’s largest and fastest-growing internet economy.
“This investment will support Fb and Gojek’s shared aim of empowering businesses and driving monetary inclusion across the archipelago,” Fb said in a blog post from Matt Idema, WhatsApp COO. “WhatsApp helps businesses communicate with customers and make sales properly, and together with Gojek, we believe we can bring more than millions of people into Indonesia’s growing digital economy.”
According to a statement from Gojek: “As part of its commercial agreement, PayPal’s payment capabilities will be integrated into Gojek’s services and the two companies will also collaborate to allow clients of GoPay, Gojek’s Tech Digital wallet, to achieve access to PayPal’s network of more than 25 million merchants around the world.”