Gojek Officially Announces First Phase of Series F Funding

Today (2/1), Gojek officially announced the first phase of Series F funding led by Google, JD.com, and Tencent. Some investors, such as Mitsubishi Corporation and Provident Capital are involved in this round. It was previously reported, So Gojek's target of raising $ 2 billion.

The investment will be focused on market penetration in Indonesia and expansion in Southeast Asia. It's highlighted in the release that post Series F funding, founders will still have control over the decision and company's provisions. It's to realize Gojek's short-term vision.

"Our vision is to create useful things for Indonesia and give positive social impact through technology. Gojek has successfully initiated the multi-sided platform model, millions of users can access various services for daily needs, entrepreneurs and partners can access customers, increase their income, and at the same time, get access to various financial services," Nadiem Makarim, Founder &CEOs Gojek Group.

It is also mentioned, Gojek's Gross Transaction Value (GTV) has exceeded $9 billion, mostly from Go-Pay transactions around $6.3 billion and Go-Food around $2 billion. Regarding expansion results, Go-Viet in Vietnam is currently raising 40% of the two-wheeler transportation market since its establishment in August 2018.

"Along with the company's international expansion, we're proud to take our vision to more countries in Southeast Asia, also put Indonesia as the region's technology innovation center in the world map," he added.

- Original article is in Indonesian, translated by Kristin Siagian