Go-Jek Books Rp. 7.3 Trillion New Funding For Market Domination

Go-Jek has officially announced funding of $555 million (Rp 7.3 trillion) from the top class investors: KKR & Co., Warburg Pincus, Farallon Capital with the participation of previous investors. This news was leaked a few weeks ago but finally today it was officially released, making this fundraising the biggest investment for technology startups in Indonesia.

Last January we reported that Gojek has posted 340,000 bookings every day and has now almost doubled to 660,000 bookings every day, or around 20 million books per month. Even though it was hampered by issues of privacy and security of user data, this did not stop Go-Jek from launching new verticals such as booking services for car mechanics and car washes, as well as expanding to new cities in Indonesia.

The funding was announced just days after Uber China was acquired by Didi Chuxing, and Go-Jek's biggest competitor, Grab announced a $600 million funding commitment from Softbank and Didi Chuxing. Looking at the increasingly hot competition, it is hoped that this funding for Go-jek will help Go-jek win market dominance in Indonesia.

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Nadiem Makarim, CEO of Go-Jek will also be a speaker at the Indonesia FintechFest 2016 event on 29-30 August 2016 at the Indonesia Convention & Exhibition (ICE), BSD, Tangerang, Banten. Visit the official website of Indonesia FintechFest 2016 for detailed information. https://fintechfest.id