Funding

Gojek Secures Additional Funding From Mitsubishi In Series F Round

Indonesia-based ride-hailing giant Gojek announced today that it has raised an undisclosed amount of funding from Mitsubishi Motors Corporation, Mitsubishi Corporation, and Mitsubishi UFJ Lease & Finance as part of its ongoing Series F round.

Mitsubishi Corporation is an existing investor of Gojek, who has also participated in its first close of the Series F round.

Gojek reportedly raised over $1 billion from investors at a nearly $10 billion valuation then.

It is said to be seeking an additional $2 billion in equity and debt financing to close the Series F round.

This round of financing also includes backing from other big names such as Google, Tencent and JD.com.

Exploring New Business Models

According to a statement, this new funding will allow Mitsubishi to tap into Gojek’s expertise and presence in the mobility and consumer services market in Southeast Asia.

“Bringing Mitsubishi Motors and Mitsubishi Corporation’s long and strong presence and brand power in Southeast Asia, as well as Gojek’s diversified and unique business potential together, we foresee the creation of large synergies and innovation that will boost the growth of the three parties,” said Mitsubishi Motors Corporation chairman Osamu Masuko.

Meanwhile, Mitsubishi UFJ Lease & Finance president and CEO Takahiro Yanai said it will reinforce its partnership with Gojek and explore new business models focused on digital and mobility services.

With these partnerships, Gojek group president Andre Soelistyo is confident that it will help to grow their business to “reach more people and create greater value in the region”.

Featured Image Credit: Gojek

 

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