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Visa invests in Indonesian ride-hailing firm Go-Jek

Wednesday, July 17, 2019, 11:48 GMT+7
Visa invests in Indonesian ride-hailing firm Go-Jek
A Go-Jek driver rides a motorcycle on a street in Jakarta, Indonesia, December 15, 2017. Photo: Reuters

Visa Inc said on Wednesday it has invested in Indonesia’s Go-Jek as part of the ride-hailing company’s ongoing Series F fundraising round.

The two companies will work together to provide more options for cashless payments for consumers across Indonesia and Southeast Asia, the U.S. payment processor said.

Visa did not mention how much money it was investing in Go-Jek or how big a stake it would acquire.

Launched in 2011, Go-Jek has evolved from ride-sharing to allowing its customers to make online payments and order everything from food to groceries and massage services.

The Indonesian company raised about $1 billion earlier this year and is valued at up to $10 billion, according to sources.

Reuters

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