Go-Jek, the ride-sharing startup from Indonesia has reportedly continued its fundraising push, setting its goal at raising US$2 billion. Techcrunch reported that its existing investors like Google, Tencent, and JD.com all have agreed to invest around US$920 million into the latest round.
The company hasn’t released any official statement yet regarding the fundraising, which reportedly will put the company’s valuation at around US$9.5 billion. e27 has reached out for comment.
The funding is said to be directed towards regional expansion that was kickstarted last year. It will also be used to push fintech development.
Just last year, Go-Jek closed a US$1.4 billion round with valuation at US$5 billion.
The deal is said to also feature the acquisition of JD.com’s Indonesian counterpart, JD.id. e27 has reached out to JD.id to confirm the news.
If the acquisition is to take place, Go-Jek would have a solid position among the country’s infamous e-commerces unicorns like Tokopedia and Bukalapak.
Last year Go-Jek expanded into to Vietnam, Thailand, and Singapore. It recently acquired Coins.ph as a bid to enter the Philippines. It is claiming a record of 125 million downloads with over a million drivers.
Kevin Aluwi, Go-Jek’s co-founder, told Reuters that total transactions on its platforms crossed $12.5 billion last year.
Original news is from e27.