Hot after the heels of Grab acquiring Uber’s South East Asian stake, Go-Jek, a competitor of Grab in South East Asia has announced that Allianz, the insurance giant, is joining Google and Tencent in investing in Go-Jek.
Allianz is participating in a $1.5billion dollar fundraising round which includes the likes of Google, Tencent, JD.COM and other companies. This puts Go-Jek to be valued around the figure of $4.5billion.
Go-Jek and Allianz have been working together in Indonesia where Allianz provides health insurance for their drivers and riders as well as to their families. Whilst heavily supported in its home ground of Indonesia, Go-Jek will be pushing into the markets such as Philippines, Thailand, and Vietnam.
Go-Jek started out by offering ride-sharing via motorbikes in the heavily congested cities in Indonesia and has now branched out into car sharing, food delivery and also providing other lifestyle-related services as well.