Indonesia's answer to Alibaba and Tencent, ride hailing startup Go-Jek has announced that it is acquiring three startups to expand into payments, savings, and lending. With over 60% of the Inonesian population unbanked, Go-Jek is seeking to accelerate financial inclusion and provide affordable finance alternatives. The firm, which began life as a motorbike and taxi business, has expanded its offering to include food delivery and payments. Go-Jek said the acquisition would be a vital component in its aim to lead Indonesia's payments sector.
Go-Jek said Friday it had bought offline payments service Kartuku, payment gateway Midtrans and saving and lending firm Mapan for undisclosed amounts. Go-Jek said the acquisition move would bolster its activity in both online and offline payments, as well as increase engagement in the financial services in Indonesia. Go-Jek and other motorcycle riders on a street in Jakarta, Indonesia on Monday, March 21, 2016. Ride-hailing start-up Go-Jek has acquired three financial technology (fintech) start-ups as it looks to dominate Indonesia's digital payments space. Go-Jek said Friday it had bought offline payments service Kartuku, payment gateway Midtrans and saving and lending firm Mapan for undisclosed amounts.
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