Google, Tencent, JD.com to inject around US$920M investment in Go-Jek

Ride-sharing startup from Indonesia, Go-Jek, has reportedly continued on its fundraising, setting eye at US$2 billion fresh capital. Three sources with knowledge about the investment told Tech News that its existing investors like Google, Tencent, and JD.com all have agreed to invest around US$920 million out of the number the company aims for.

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.

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The funding is said to be directed towards regional expansion that had been kickstarted since last year and to push fintech development.

Just last year, Go-Jek has closed a US$1.4 billion round with valuation cap at $5 billion.

The deal is said to also feature the acquisition of JD.com’s Indonesian counterpart, JD.id with over US$1 billion value. TechNews has reached out to JD.id to confirm about the news.

If the acquisition is to take place, Go-Jek would have a solid position among the country’s infamous e-commerces unicorns along with Tokopedia and Bukalapak.

Go-Jek’s last year’s achievements included expansion to Vietnam, Thailand, and Singapore, fintech Coins.ph’s acquisition as a bid to enter the country, and claiming a record of 125 million downloads with over a million drivers.