Google has made an investment in Indonesian ride-hailing start-up Go-Jek.
The move is part of Google’s ambition to grow Indonesia’s digital economy and start-up scene, the tech giant said in a statement Monday.
“Go-Jek is led by a strong Indonesian management team and has a proven track record of using technology to make life more convenient for Indonesians across the country,” said Caesar Sengupta, vice-president of at Google’s next billion users initiative, which is the company’s plan to target its “next billion” users around the world.
“This investment lets us partner with a great local champion in Indonesia’s flourishing startup ecosystem, while also deepening our commitment to Indonesia’s internet economy.”
Google did not disclose the amount invested in Go-Jek.
Reports of the internet titan pouring cash into the firm first surfaced earlier this month. Reuters and TechCrunch reported that the investment was part of a $1.2 billion fundraising for the company, with participation from Singapore’s sovereign wealth fund Temasek Holdings and Chinese internet firm Meituan-Dianping.
Last month, Go-Jek acquired three financial technology (fintech) start-ups for undisclosed amounts in a bid to dominate Indonesia’s digital payments industry.
A spokesperson for Go-Jek was not immediately available for comment when contacted by CNBC.
