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View all search resultsGojek secures Facebook, PayPal investment
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echnology giant Gojek has announced that American tech companies Facebook and PayPal have invested an undisclosed amount in its new round of funding, joining other high-profile global corporations such as Google and Tencent.
The funds would be used to focus on increasing digital economic growth in Southeast Asia, especially payment and financial services inclusion for small and medium enterprises (SMEs), said the decacorn, which means the company is valued at more than US$10 billion.
“The COVID-19 pandemic has taught us that a resilient economy requires support from reliable digital infrastructure,” said Gojek’s co-CEO Andre Soelistyo in a statement on Wednesday. “With this collaboration, we will continue to speed up digital economy inclusion, especially when the majority of SMEs in Southeast Asia still rely on cash transactions.”
Gojek is the first Indonesian company to receive an investment from Facebook, with the social media company looking to create opportunities for businesses in Indonesia through its instant messaging service, WhatsApp.
“Gojek, WhatsApp and Facebook are important services in Indonesia. Through this cooperation, we can help millions of SMEs and their customers to join the largest digital economy community in Southeast Asia,” said WhatsApp chief operating officer Matt Idema.
Facebook has been on a mission to widen the market for its digital payment services, as the company talked with several e-wallet companies in Indonesia.
Meanwhile, Gojek has agreed to integrate PayPal into Gojek’s payment system, GoPay, giving GoPay users access to the PayPal network of 25 million merchants worldwide.
