Payment processor Visa has invested in Indonesia’s ride-hailing service Go-Jek. The investment is part of Go-Jek’s ongoing series F fundraising round.
According to Visa, the two will collaborate to provide customers across Indonesia and Southeast Asia with more options for cashless payments. The amount of money invested and Visa’s stake has not been released as yet.
Since its launch in 2011, Go-Jek has developed a variety of services, ranging from ride-sharing, food delivery and grocery shopping, online payments, ticketing facilties, as well as other health and beauty services. Go-Jek has managed to raise about US$1billion this year so far. Its value is estimated to be at US$10billion in 2019, making it Indonesia’s first decacorn.
Source: Channel News Asia
Image: Yahoo Finance