Gojek bags additional $300m from telco operator Telkomsel

Indonesian ride-hailing giant Gojek announced Monday that it has received an additional investment of $300 million from local digital telecommunications operator Telkomsel to explore more opportunities in digital services.

In a statement, Gojek said the investment follows Telkomsel’s initial investment in November 2020, which led to the two companies integrating various aspects of their services to provide users with new benefits.

As part of the additional investment, Gojek and Telkomsel will strengthen their collaboration to accelerate Indonesia’s digital transformation. It will build on the existing collaboration between the two firms and open up new synergies as the two companies scale up digital services and deliver new, innovative solutions.

“The additional investment will strengthen the collaboration between the two companies, enabling both of us to leverage our technological resources and expertise to bring the benefits of the digital economy to consumers, driver-partners, and small businesses across Indonesia,” said Gojek Co-CEO Andre Soelistyo.

The additional investment in Gojek has the approval and support of Telkomsel’s shareholders, including Telkom Indonesia and Singtel Group. This is in line with Telkomsel’s view that the investment will strengthen its position as the leading digital telco in Indonesia, enabling it to further develop its digital ecosystem and bring about greater benefits to society.

“The additional investment from Telkomsel affirms the common vision of the two companies, both born and developed to answer real problems in society through digital and technological innovation, with the spirit to serve and advance the country,” said Telkomsel CEO Setyanto Hantoro.

Founded in 1995, Telkomsel is a joint venture between telcom giants Telkom Indonesia and Singapore’s Singtel, with the former owning a 65 per cent stake in the company and the latter holding the rest.

In November 2020, Telkomsel invested $150 million in Gojek, providing a further boost to Gojek’s services. Telkomsel joins a list of over 30 investors that have backed Gojek so far.