Transforming ride-hailing services into payment platforms

Investors including KKR and Warburg Pincus have agreed to inject $550 million into an Indonesian ride-hailing service in an attempt to establish the app as the leading mobile platform in Southeast Asia’s biggest market. The funding illustrates growing interest in transforming ride-hailing services into broader platforms providing a range of services, including payments. Indonesia’s Go-Jek… which launched its app in 2015, has diversified from ride-hailing and courier services to mobile payments, as well as allowing customers to order services such as a masseuse or beautician to their homes. The company has more than 200,000 motorcycle and car driver partners. Go-Jek has previously been backed by Sequoia Capital and Singapore’s NSI Ventures.

 

Jeevan Vasagar

Food4Brains

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