GOJEK secures more funds from Mitsubishi to leverage on SEA's digital economy

GOJEK has secured a co-investment from Mitsubishi Motors Corporation and Mitsubishi Corporation, as well as from Mitsubishi UFJ Lease & Finance, to scale its strategy and leverage on Southeast Asia’s growing mobile-first population, as well as its rapidly expanding digital economy. This is part of GOJEK's ongoing Series F funding round. The ride-hailing firm has declined to disclose the investment figure.

With Mitsubishi as an existing investor in GOJEK's first Series F closing in February 2019, a spokesperson said to Marketing that the additional funds reinforce investor confidence in GOJEK’s unique position to create and execute on greater opportunities for growth in the region. In addition, the partnership also looks to enable Mitsubishi Motors, Mitsubishi, and Mitsubishi UFJ Lease & Finance to tap into GOJEK’s expertise and presence in the mobility and consumer services market in the region.

According to Andre Soelistyo, GOJEK group president, the renewed investment from Mitsubishi, and the addition of Mitsubishi Motors and Mitsubishi UFJ Lease & Finance to Series F, is testament to the strength of the GOJEK vision to use technology as a means to improve the everyday lives of people in Southeast Asia.

"We are excited to explore various opportunities to collaborate with Mitsubishi Motors, Mitsubishi, and Mitsubishi UFJ Lease & Finance. These partnerships and commitments enable us to continue growing our products and services to reach more people and create greater value in the region," he added.

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Osamu Masuko, chairman of Mitsubishi Motors Corporation, said bringing Mitsubishi Motors and Mitsubishi’s long and strong presence and brand power in Southeast Asia, as well as GOJEK’s diversified and unique business potential together, the teams foresee the creation of large synergies and innovation that will boost the growth of the three parties.

"We believe that the accumulation of expertise in new mobility services that are rapidly spreading in the region and the opportunity to enter the market will contribute to the growth of Southeast Asia in the future,” he added.

Meanwhile, Takahiro Yanai, president and CEO, Mitsubishi UFJ Lease & Finance, said Mitsubishi UFJ Lease & Finance and GOJEK will reinforce the partnership and explore new business models centering on digital and mobility fields, through the pooling of wide range functions, knowledge, and knowhow.