KKR, Warburg Pincus invest in start-up Go-Jek

The funds are betting that use of the bike-ride hailing app will accelerate as Indonesia’s population embraces mobile phones.

Private equity firms KKR, Warburg Pincus are among the investors in Indonesian motorcycle-hailing app Go-Jek, betting on the swift transformation of the world’s fourth-largest population into a digital nation.

This equity capital raise of over $550 million, which represents the company’s latest round of financing, also came from Farallon Capital and Capital Group Private Markets, as well as existing shareholders and other international investors.

Previous investors include Sequoia India, Northstar Group, DST Global, NSI Ventures, Rakuten Ventures and Formation Group.

Home-grown ride-hailing apps are challenging global companies such as Uber Technologies, which agreed on Monday to sell its China business to China’s...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222