SUBSCRIBERS
Grab backs LinkAja in latest twist to e-wallet war against Gojek
This is Grab's salvo against Gojek's GoPay; LinkAja is backed by state-owned enterprises
Published Tue, Nov 10, 2020 · 09:50 PM
Singapore
THE fierce e-wallet war between Grab and Gojek in Indonesia has gone up a notch, with Grab gaining a stake in an Indonesian e-wallet backed by state-owned enterprises (SOEs).
On Tuesday, Grab announced that it is leading a Series B round of up to US$100 million in commitments into Indonesia's state-backed e-wallet, LinkAja. Grab is a minority investor.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
