Unicorn GOJEK Receives Investment from Visa

GOJEK, a Southeast Asian unicorn, has received backing from global credit and payments provider Visa. According to a release, Visa participated in GOJEK’s ongoing Series F funding round for an undisclosed amount.  Other investors include Mitsubishi Motors Corporation, Mitsubishi Corporation, and investment from Mitsubishi UFJ Lease & Finance, as well as Siam Commercial Bank.

Last February, it was reported that GOJEK received a valuation of around $10 billion.

The two companies expect to work together to provide “greater options on cashless payments and more seamless experiences for consumers across Indonesia and Southeast Asia.”

GOJEK is an interesting company. A fast-growing multi-service digital platform, GOJEK provides delivery services as well as a growing number of Fintech offerings.

GOJEK was founded by Brown/Harvard B School Alum Nadiem Makarim, a native Indonesian, who worked at McKinsey for three years before launching the firm.

GOJAK’s “GO-PAY” is Indonesia’s market leader in digital payments. The funding will support the expansion across Southeast Asia. Visa can also expect to better integrate with the agile Fintech.

GOJEK President Andre Soelistyo said they have been humbled by the support during the ongoing funding round.

“We’ve been humbled by investor support over the course of our current fundraising round as they have truly shown confidence in our long-term vision of powering the next phase of technology-enabled growth in Southeast Asia. Visa’s investment in GOJEK is an endorsement of our business model and reflects their belief in GOJEK’s ability to improve the lives of people across the region through our services and payments ecosystem.”

GO-PAY CEO Aldi Haryopratomo said that “GO-PAY and Visa share a collective vision of enabling convenient and seamless transactions for consumers across socio-economic groups.

“…we are delighted to work with Visa to collaborate on further expanding our solutions to consumers across Southeast Asia,” said Haryopratomo. “Together with Visa, we will have the unique opportunity to provide greater access to cashless payments across the region.”

Visa Regional President Asia Pacific, Chris Clark said the two companies share a common objective. Both want to make everyday life more convenient for consumers.

 “We also have a shared goal to bring formal financial services to the unbanked and underserved, including micro, small and medium businesses,” Clark said. “Through this partnership, we will explore ways to leverage the power of GOJEK and Visa’s networks to expand financial access in Southeast Asia.”

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