01-Feb-19, CNBC

Indonesian ride-hailing company Go-Jek has finalized the first closing of its ongoing Series F fundraising efforts. An industry source familiar with the matter told CNBC that Go-Jek raised just more than USD1 bn.

Indonesian ride hailing firm Go Jek hits big number with latest fundraising (c) CNBC

Image: afif c. kusuma / iStock Editorial / Getty Image

Investors included tech giants Google and Tencent as well as Chinese e-commerce player JD.com and Japan's Mitsubishi Corporation.

The company said the proceeds would be used to expand and deepen Go-Jek's presence in its home market, Indonesia, as well as Singapore, Vietnam and Thailand. "We started out with ride-hailing but in a short space of time have become Indonesia's industry leader across all key verticals including transport, food delivery, mobile payments, logistics, and merchant services," Nadiem Makarim, CEO of Go-Jek Group, said.

 Read the full article 

 Consumer & Retail insights