Facebook and PayPal have pumped undisclosed sums into Indonesia ride-hailing firm Gojek.
According to Matt Idema, COO of Facebook-owned WhatsApp, the investment underscores Facebook’s commitment to serving small businesses and helping bring them and their customers into the digital economy.
“This investment will support Facebook and Gojek’s shared goal of empowering businesses and driving financial inclusion across the archipelago. WhatsApp helps small businesses communicate with customers and make sales, and together with Gojek, we believe we can bring millions of people into Indonesia’s growing digital economy,” he added in a blog post.
Gojek has been a phenomenal success and a shining star in Indonesia. Since its launch in 2015, the unicorn has helped bring hundreds of thousands of merchants onto its platform, giving them access to more than 170 million people across Southeast Asia. Its payments business processes billions of transactions each year and owns the largest e-wallet in Indonesia.
In a statement, PayPal pointed out that the new relationship is another positive step in its journey towards becoming the worldwide payments partner of choice, and helping to fuel global commerce by connecting the world’s leading marketplaces and payment networks.
Gojek believes that the cash injections are a great validation that the world’s most innovative tech companies recognise the positive impact it is making in Indonesia and Southeast Asia.
“By working together, we have the opportunity to achieve something truly unique as we aim to help more businesses to digitise and ensure that many millions more consumers are enjoying the benefits that the digital economy can bring,” said Andre Soelistyo, Co-CEO of Gojek.