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    Facebook and Paypal Join Other Big Tech Investors in Gojek

    "This is great validation that the world’s most innovative tech companies recognize the positive impact Gojek is making," said Gojek Co-CEO, Andre Soelistyo.

    By The Staff - Jun 5, 2020
    Facebook and Paypal Join Other Big Tech Investors in Gojek

    Image via Gojek

    Gojek announced today that Facebook and PayPal have joined Google, Tencent, and others as investors in the Indonesian-based app for ordering food, shopping, commuting, and making digital payments across Southeast Asia.

    “This is great validation that the world’s most innovative tech companies recognize the positive impact Gojek is making in Indonesia and the whole of Southeast Asia,” said Gojek Co-CEO, Andre Soelistyo in a statement.

    Financial information was not disclosed regarding the investment, but Gojek told TechCrunch that funding from Facebook and PayPal were part of the brand’s ongoing Series F financing round, which brings it total raise-to-date to over $3 billion.

    According to Facebook, it is “excited to invest in Indonesia’s future as the largest digital economy in Southeast Asia.”  According to a 2019 study by Google, Temasek and Bain & Company, Indonesia is home to Southeast Asia’s largest and fastest-growing internet economy.

    “This investment will support Facebook and Gojek’s shared goal of empowering businesses and driving financial inclusion across the archipelago,” Facebook said in a blog post from Matt Idema, WhatsApp COO. “WhatsApp helps small businesses communicate with customers and make sales, and together with Gojek, we believe we can bring millions of people into Indonesia’s growing digital economy.”

    According to a statement from Gojek: “As part of its commercial agreement, PayPal’s payment capabilities will be integrated into Gojek’s services and the two companies will also collaborate to allow customers of GoPay, Gojek’s digital wallet, to gain access to PayPal’s network of more than 25 million merchants around the world.”

    Google and Tencent first invested in Gojek in 2018.

     

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