The Rakuten-backed on-demand ride platform has raised cash at a $3bn post-money valuation as it seeks to bat away competition in its home market of Indonesia.
Internet group Tencent has led a $1.2bn funding round for Indonesia-based on-demand ride and delivery service provider Go-Jek, TechCrunch reported yesterday, citing two sources close the company.
The deal, Tencent’s first venture capital investment in Indonesia, was closed last week and valued Go-Jek at $3bn post money. TechCrunch believes the round’s other participants were among the company’s existing investors.
Go-Jek initially focused on a ride hailing service centred on motorcycle taxis called ojeks, but has since expanded to four-wheel vehicles…
