Gojek announced today that Facebook and PayPal have joined Google, Tencent and others as investors in its current fundraise. This new investment will support Gojek’s mission to boost Southeast Asia’s digital economy, with a focus on supporting payments and financial services in the region.
With digital payments adoption primed to accelerate exponentially, the resources of some of the world’s leading global tech businesses will be combined with the local focus and technology of Gojek to benefit millions of businesses and people across Indonesia and Southeast Asia.
Gojek’s payments business, GoPay has long been focused on increasing access to the digital economy among micro, small and medium enterprises (MSMEs), the majority of which continue to rely on cash to operate, due to the region’s large unbanked population. The latest influx of funding will support more of these businesses as they seek to digitise further, from micro-merchants selling wares on the street side up to large businesses looking to strengthen their digital payment infrastructure.
Since launching its app in 2015, Gojek has digitised hundreds of thousands of merchants on its platform, providing them with access to more than 170 million users across Southeast Asia. Its payments business processes billions of transactions each year and owns the largest e-wallet in Indonesia. A large part of this is driven by GoFood, the largest food delivery service in Indonesia, as well as the expansion of GoPay into other sectors both within and outside the Gojek ecosystem.
