Facebook and PayPal Invest in Gojek

1 month ago . 1 min read
MP
Marella Putri
Writer at Forbes Indonesia
Facebook and PayPal Invest in Gojek
Andre Soelistyo, co-CEO of Gojek. Photo courtesy of Kartuku.

by Ulisari Eslita

PayPal and Facebook are collaborating on funding round by Gojek, ride-hailing, and food delivery platform, as part of its ongoing fundraising round. The undisclosed investment will support Gojek’s mission to boost Southeast Asia’s digital economy, focusing on supporting payments and financial services in the region.

“This is a great validation that global tech companies recognize the positive impact that Gojek is making in Indonesia and the region. By working together, we can help digitize more businesses and ensure millions of customers enjoy the benefit of the digital economy,” said Andre Soelistyo, Gojek Co-CEO.

Gojek is the first Indonesian company to receive an investment from Facebook. The social media giant is looking to create opportunities for businesses in Indonesia through its instant messaging service, WhatsApp. WhatsApp will work together with Gojek, to bring millions of people into Indonesia’s growing digital economy.

Furthermore, Gojek has agreed to integrate PayPal into its payment system, GoPay. The integration will allow GoPay users to access the PayPal network of 25 million merchants worldwide. PayPal head of corporate development and ventures for APAC Farhad Maleki said that Southeast Asia was at a very crucial point in the process of digital adoption, which could create new opportunities to provide financial services to unbanked consumers.

“We are very excited about entering into a strategic relationship with Gojek to expand access and provide new experiences for our users in this dynamic market,” he said.

MP
Written By
Marella Putri
Writer at Forbes Indonesia
Topics
Technology