Two American giants, Facebook Inc., (NasdaQ: FB) and Paypal Holdings Inc., have joined other global tech players like Google, Tencent and other investors of Indonesian digital firm, GoJek in its current fundraise. This new investment will support the decacorn’ mission to boost its digital economy in Southeast Asian (SEA) market, with a focus on supporting payments and financial services.
Facebook’ investment is the first it has made in an Indonesia-based business as it seeks to create new opportunities for businesses in the country, including through its ubiquitous Whatsapp service. Matt Idema, chief operating officer at WhatsApp, said GoJek, WhatsApp and Facebook are indispensable services in Indonesia.
The statement said, as part of its commercial agreement, PayPal’ payment capabilities will be integrated into Gojek’ services and the two companies will also collaborate to allow customers of a digital wallet provider, GoPay, to gain access to PayPal’ network of more than 25 million merchants around the world.