Go-jek Series F funding round has been going on since October last year. And after 9 months going, another giant company, Visa, has joined the mob investing on the Indonesian decacorn.
Future collaboration of Go-Pay and Visa for Southeast Asian customers
The global digital payments technology company has invested in an undisclosed amount. But some details of the transaction has been released. Including Visa’s future part on Go-jek’s cashless payment system, Go-Pay.
The statement said that the two companies will collaborate to make new innovation on payment solution for the customers. This will also improve the lives of Go-jek’s consumer, the Southeast Asia’s unbanked and underserved population.
Previously, Go-Jek’s regional competitor, Grab has also had similar partnership with Mastercard. The two then collaborates on making credit card payments available as well as a pre-paid card for daily payments.
Looking up to the competitor’s further steps, there is a possibility that Go-jek and Visa will follow the same steps.
“We both want to make everyday life more convenient, whether it’s how people move around town in Southeast Asia’s fast-growing urban areas, or making it easier for people to pay and be paid all over the world. We also have a shared goal to bring formal financial services to the unbanked and underserved, including micro, small and medium businesses. Through this partnership, we will explore ways to leverage the power of Go-Jek’s and Visa’s networks to expand financial access in Southeast Asia.” – Chris Clark, Visa Regional President (Asia Pacific)
In February, Go-jek has made the first close on the Series F funding round. Google, JD.com and Tencent, which are also the earlier investors of the company, led the first close. Three entities of Mitsubishi Corporation, Provident Capital and Thailand’s Siam Commercial Bank also participated.
The company is to reportedly close the round with the target of raising $2 billion.
Now Go-jek also has its own digital insurance feature
Meanwhile at its home country, Go-Jek just released a new feature. The feature, Go-Sure, is a collaboration with the country’s insurtech company, PasarPolis. Go-Sure will serve as a digital insurance services for customers.
This is the second feature collaboration of the two. Previously, PasarPolis has also provided an insurance feature for Go-jek’s driver partners through Go-Protection.
In addition, PasarPolis also provides a life insurance for Go-Ride passengers and public liability through Go-Life. As well as cinema and event tickets cancellation insurance for customers who buy tickets through Go-Tix.
