Visa invests in Indonesian ride-hailing firm Go-Jek

Visa invests in Indonesian ride-hailing firm Go-Jek

Commuters pass by a Gojek advertisement in Singapore
Commuters pass by a Gojek advertisement in Singapore Mar 4, 2019. (Photo: REUTERS/Edgar Su/File Photo)

Visa said on Wednesday (Jul 17) it has invested in Indonesia's Go-Jek as part of the ride-hailing company's ongoing Series F fundraising round.

The two companies will work together to provide more options for cashless payments for consumers across Indonesia and Southeast Asia, the U.S. payment processor said.

Visa did not mention how much money it was investing in Go-Jek or how big a stake it would acquire.

Launched in 2011, Go-Jek has evolved from ride-sharing to allowing its customers to make online payments and order everything from food to groceries and massage services.

The Indonesian company raised about US$1 billion earlier this year and is valued at up to US$10 billion, according to sources.

Source: Reuters

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