Losing money: A file picture showing a Gojek rider and passenger ride on a motorbike in Jakarta. Both Gojek and Grab are losing money as they expand in ride-hailing, meal deliveries and payments. — Reuters.
SINGAPORE: South-East Asian ride-hailing giant Gojek has raised US$1.2bil for expansion, defying tech-sector turbulence and the coronavirus (Covid-19) pandemic to secure funds to take on Grab Holdings Inc.
The new financing was finalised just over the past week, when the Covid-19 outbreak quickened its spread and triggered market routs across the globe.
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