Visa invests undisclosed amount in Gojek's Series F round

PAYMENTS provider Visa on Wednesday said it has invested in ride-hailing player Gojek as part of its Series F fundraising round to support Gojek's payments services across South-east Asia. The investment amount and funds raised to date in the Series F round was not disclosed.

Through the collaboration, Gojek and Visa will also partner up on innovative payment solutions to serve customers in the "unbanked and underserved" population.

Chris Clark, Visa regional president Asia-Pacific, said that through the partnership, Visa and Gojek will explore ways to leverage both the companies' networks to expand financial access in South-east Asia.

"We are excited about this partnership because Visa and Gojek share common objectives," he added.

Gojek president Andre Soelistyo added: "We've been humbled by investor support over the course of our current fundraising round as they have truly shown confidence in our long-term vision of powering the next phase of technology-enabled growth in South-east Asia."

The announcement comes over a week after Gojek said it secured investment from Mitsubishi Motors Corporation and Mitsubishi Corporation, and another from Mitsubishi UFJ Lease & Finance, as part of its ongoing Series F funding round. Both amounts were undisclosed.

The new investment will allow Mitsubishi to tap Gojek's expertise and presence in the mobility and consumer services market in the region.

Mitsubishi Corporation is an existing Gojek investor, having participated in the first phase of its Series F round, which raised over US$1 billion when it closed on Feb 1, led by Google, JD.com and Tencent.