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Go-Jek is getting closer to be a Decacorn

Go-Jek, Indonesia’s ride-hailing unicorn, has completed the first round of its F-series funding. The Indonesian Unicorn now has a value of around $ 9.5 billion.

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Arsianews, Jakarta – Go-Jek, Indonesia’s ride-hailing unicorn, has completed the first round of its F-series funding. Go-Jek did not disclose details of the funds that had been raised. However, according to a report from DealStreetAsia, in this round, Go-Jek managed to raise funds of US $ 1 billion.

This fundraising was led by Google, JD.com, Tencent and several other investors including Mitsubishi Corporation and Provident Capital.

Go-Jek will use this funding for food delivery, transportation, mobile payment, logistics, and merchant services. In addition, the funds will also be used to support market expansion to Southeast Asian countries outside Indonesia.

According to Techcrunch, this funding makes the Indonesian Unicorn now has a value of around $ 9.5 billion. This means that Go-Jek is now getting closer to being a Decacorn or a startup that has a valuation exceeding US$ 10 billion.

Currently, Indonesia has four unicorn startups but has not had a Decacorn startup. The only Decacorn in Southeast Asia is currently a Go-Jek competitor from Singapore, Grab.

At the end of 2018, Grab received an injection of funds from Toyota, SoftBank, and several other investors totaling US$ 1 billion and made its valuation of US $ 11 billion.

Go-Jek claims to be the largest on-demand, payment and delivery service platform in Southeast Asia. With around 27 million active users every month, Go-Jek has more than US$ 9 billion in gross transactions value accross Southeast Asia.

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