Gojek receives investment boost from Facebook and PayPal

Investment will help grow South-east Asia’s digital economy and accelerate digital payments adoptions among small businesses.
By: | June 8, 2020

The COVID-19 pandemic and its associated issues have served as a somber reminder that if economies are to be more resilient, they must be underpinned by digital infrastructure that diversifies the ways in which people live and transact.

Speaking as he welcomed new investment from Facebook and PayPal, Andre Soelistyo, Gojek co-CEO, added, “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.”

Since launching its app in 2015, Gojek has digitised hundreds of thousands of merchants on its platform, providing them with access to more than 170 million users across South-east Asia.

Facebook and PayPal joining the likes of Google and Tencent as investors, said Gojek, will support more businesses as they seek to digitise further. These include micro-merchants selling wares on the street side, up to large businesses looking to strengthen their digital payment infrastructure.

For tech giant Facebook, it marks the first time they have made an investment in an Indonesia-based business. Describing Facebook, WhatsApp and Gojek as “indispensable services” in Indonesia, Matt Idema, COO at WhatsApp, said, “Working together, we can help bring millions of small businesses and the customers they serve into the largest digital economy in South-east Asia.”

As for PayPal, their payment capabilities will be integrated into Gojek’s services and the companies will also collaborate to allow customers of GoPay, Gojek’s digital wallet, to gain access to PayPal’s network of more than 25 million merchants around the world.

Farhad Maleki, Head of Corporate Development and Ventures for APAC, PayPal, said, “South-east Asia is at an inflection point in digital adoption that creates new opportunities to deliver financial services to previously unbanked merchants and customers.

“We could not be more excited about entering into this strategic relationship with Gojek to expand access and provide new experiences for our collective customers in this dynamic market, and around the world.”