Telkomsel ploughs another USD300m into ride-hailing firm Gojek

10 May 2021

Having pumped USD150 million into ride-hailing and payments firm Gojek only last November, Telkom Indonesia mobile arm Telkomsel has confirmed it is ploughing a further USD300 million into the Southeast Asian company. The Indonesian cellco’s move comes amid plans by Gojek to seek a merger with the e-commerce group Tokopedia. Reports speculate that the potential USD18 billion deal will result in the creation of a new enlarged entity – GoTo – and will place Telkomsel among its ‘top eight’ investors. Further, the ride-hailing outfit has to date raised in excess of USD3.45 billion from investors such as Google, Facebook, PayPal, Visa and Tencent, with Telkomsel banking its hopes on using the platform of the new strategic partnership to scale up its digital services capabilities and deliver new services to its 169 million subscribers.

‘The continued investment from Telkomsel reinforces the common vision of the two companies that are both born and developed to answer real problems in society through digital and technological innovation, with a passion to serve and advance the country. Therefore, Telkomsel is optimistic that this latest investment effort will open more opportunities for the public to see and enjoy more advanced technology-based innovations,’ said Telkomsel’s President Director, Setyanto Hantoro.

Indonesia, Facebook, Gojek, Telkom Indonesia, Telkomsel (Telekomunikasi Selular)