It has raised a higher than targeted $1.5b in a fundraising round.
According to TODAY Online, with the 25% extra funds it has received, Go-Jek is now valued at about US$5 billion. The additional funds and backing of well-known investors including Singapore's Temasek Holdings and Chinese technology giant Tencent Holdings will help Go-Jek to better compete in Southeast Asia's cut-throat market where incentives to drivers and passengers are used to build loyalty.
Aside from investing heavily in its mobile payments platform, Go-Jek expressed its plans to expand in other Indonesian cities as well as start operations in the Philippines, followed by other Southeast Asian countries.
Do you know more about this story? Contact us anonymously through this link.