Indonesian unicorn Go-Jek has secured an unspecified amount from insurance firm AIA Indonesia as part of its ongoing Series F funding round. The investment also comes with a strategic partnership between the two companies.
AIA Indonesia will help Go-Jek with its financial and insurance services as users can now avail life and health insurance through the app. The partnership also aims to raise awareness of life and health insurance solutions in the country. “Our in-depth consumer knowledge and digital footprint across the country, combined with AIA Indonesia’s expertise in financial protection solutions, will enable the partnership to bring our users greater value through an expanded range of products and services,” said Go-Jek co-founder Kevin Aluwi.
Go-Jek’s current Series F funding round has pooled investments from Mitsubishi Motors Corporation, Mitsubishi Corporation, and Mitsubishi UFJ Lease & Finance. The tech company expects to close the funding round by the end of the year at USD 2 billion.
The ride-hailing company reportedly aims to invest the Series F funds across transport, food delivery, logistics, mobile payments, and merchant services businesses. It also plans to use proceeds to accelerate its market expansion across Southeast Asia, a market which has been dominated by the heavily-funded Grab.