Go-Jek secures $550m in latest funding round
Indonesia-based Go-Jek has secured $550m of investment in its latest funding round. Investors included KKR, Farallon Capital Management and Warburg Pincus.
Go-Jek offers a ride-hailing app – but for motorbikes rather than cars – as well as express courier services and on-demand deliveries for groceries and other items.
In a statement issued through KKR’s website yesterday (4 August), Nadiem Makarim, Co-Founder and CEO of GO-JEK, said: “KKR, Warburg Pincus, Farallon, Capital Group and other participants in this fundraise not only bring global experience in the TMT sector, but they are also experienced local partners.
“With their support and investment, GO-JEK is poised to build on its initial success to become the largest on-demand application of choice for all Indonesians and improve the daily lives of more than 200,000 motorcycle and car driver partners, more than 35,000 GO-FOOD merchants whose businesses we helped grow and more than 3,000 service providers on our other on-demand services.”
This has been a hectic few days in the ride-hailing app sector: Didi Chuxing has taken on Uber China and has also invested heavily in Grab.