Visa invests in Indonesian ride-hailing firm Go-Jek


  • TECH
  • Wednesday, 17 Jul 2019

Commuters pass by a Gojek advertisement in Singapore March 4, 2019. Picture taken March 4, 2019. REUTERS/Edgar Su/File Photo

Visa Inc said on July 15 it has invested in Indonesia's Go-Jek as part of the ride-hailing company's ongoing Series F fundraising round.

The two companies will work together to provide more options for cashless payments for consumers across Indonesia and South-East Asia, the US payment processor said.

Visa did not mention how much money it was investing in Go-Jek or how big a stake it would acquire.

Launched in 2011, Go-Jek has evolved from ride-sharing to allowing its customers to make online payments and order everything from food to groceries and massage services.

The Indonesian company raised about US$1bil (RM4.14bil) earlier this year and is valued at up to US$10bil (RM41.15bil), according to sources. – Reuters

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