New financing raises its current financing round to just under US$3 bil. FMTNews Gojek
SINGAPORE: Southeast Asian ride-hailing giant Gojek has raised US$1.2 billion for expansion, defying tech-sector turbulence and the coronavirus pandemic to secure funds to take on Grab Holdings Inc.
Gojek’s new funding marks one of the largest deals to emerge since the novel coronavirus erupted in central China in January, exacerbating economic uncertainty and chilling deal activity the world over. “There are a number of exciting ongoing conversations that we will be able to update you on very soon.”
Both companies are losing money as they expand in ride-hailing, meal deliveries and payments, leading some of their investors to favour a truce. The deal conveys continuity at Indonesia’s most valuable startup after the co-CEOs replaced founder Nadiem Makarim at the helm. The entrepreneur left his company in October to become Indonesia’s education and culture minister.
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