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Allianz X, the digital investment unit of the Allianz Group, has announced a $35 million investment in GO-JEK, the leading Indonesian ridehailing platform that also offers various consumer on-demand and payment services.
This is Allianz X’s first investment in a Southeast Asian-headquartered company and fourth transaction in 2018. Allianz becomes GO-JEK’s sole international insurance shareholder. “Allianz X’s strategic investment in GO-JEK underscores Allianz Group's Renewal Agenda and our commitment to digital growth businesses, particularly in emerging markets,” said Nazim Cetin, CEO of Allianz X. “GO-JEK has demonstrated a track record of success within the transportation, logistics and payment sectors and we look forward to supporting their continued growth.”
Headquartered in Jakarta, GO-JEK initially started as a ride-hailing app and evolved into an on-demand mobile platform that provides a wide range of services including transportation, logistics, e-payments, and food delivery, among others.
“Allianz X’s decision to invest in GO-JEK is a testament of the Allianz Group’s strategic direction to support digital ventures,” said Joos Louwerier, President Director of Allianz Life Indonesia. “GO-JEK is an absolute digital unicorn in Indonesia and through this investment, Allianz and GO-JEK will strengthen their ties and collaboration further. Together we can offer unique financial products and services to the wider GO-JEK community.”
GO-JEK has more than one million registered drivers on the app serving customers in more than 50 cities in Indonesia.
Allianz Indonesia and GO-JEK started a strategic partnership two years ago, whereby Allianz Indonesia provided health insurance services to GO-JEK drivers. In 2017, this offering was expanded to allow GO-JEK drivers to purchase health insurance for their families.
GO-JEK’s investment will increase access to insurance products and services for GO-JEK’s customers.
GO-JEK is a leading on-demand service provider that provides a variety of complete services starting from transportation, logistics, payment, food delivery, and other on-demand services, by connecting users to more than 1 million driver partners, more than 150.000 food vendors, and more than 30.000 other services. GO-JEK main focus is to empower informal sector in Indonesia. By joining GO-JEK, partners will have access to financial services such as, saving, insurance, mortgage and affordable installments.
GO-JEK’s operations are based on 3 pillars: speed, innovation, and social impact. Until February 2018, GO-JEK app has been downloaded by more than 77 million times. The company now operates in 50 cities, including Jakarta, Bandung, Surabaya, Bali, Makassar, Medan, Palembang, Semarang, Yogyakarta, Balikpapan, Malang, Solo, Manado, Samarinda, Batam, Sidoarjo, Gresik, Pekanbaru, Jambi, Sukabumi, Bandar Lampung, Padang, Pontianak, Banjarmasin, Mataram, Kediri, Probolinggo, Pekalongan, Karawang, Madiun, Purwokerto, Cirebon, Serang, Jember, Magelang, Tasikmalaya, Belitung, Banyuwangi, Salatiga, Garut, Bukittinggi, Pasuruan, Tegal, Sumedang, Banda Aceh, Mojokerto, Cilacap, Purwakarta, Pematang Siantar, and Madura.
GO-JEK application is now available for iOS and Android and can be downloaded through www.GO-JEK.com/app.
Allianz X is the digital investment unit of the Allianz Group, one of the world's leading insurers and asset managers, and part of the Group’s Single Digital Agenda. Allianz X invests in digital growth companies that are part of our ecosystems related to insurance: Mobility, Connected Property, Connected Health, Wealth Management & Retirement, and Data Intelligence & Cybersecurity. We provide an interface between portfolio companies and the digital ecosystem within Allianz as well as drive innovation across Allianz’s operating entities and global lines of business.
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Danielle Dias Coutinho
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