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Thailand’s biggest bank is now investing in one of Indonesia Unicorns GOJEK – the leading ride-hailing company in the country (Image credit: Daily Social)
The biggest bank in Thailand invest in Indonesia’s Unicorn GO-JEK
Siam Commercial Bank Pcl, Thailand’s biggest bank is now investing in one of Indonesia Unicorns GOJEK – the leading ride-hailing company in the country, according to anonymous who familiar with the information.Siam Commercial Bank is the oldest local creditor that counts King Maha Vajiralongkorn as its biggest stockholder.
As the online services grow rapidly and the users of the services are expanding, currently banks in Southeast Asia are cooperating with technology companies that are entering their territory, proposing financial services from e-payment to consumer loans.
In 2018, Kasikornbank PCL – a major banking group in Thailand announced their investment of $50 million to Grab, Singapore based ride-hailing company, to collaborate in launching the GrabPay e-payment in its six Southeast Asian markets in 2019.
Regarding the total amount of the current investment, both of GOJEK and the bank undisclosed the information. The investment is expected could help Siam Commercial Bank increasing its revenue through online growth, while for the ride-hailing giant company is to support its financial services.
Recently, GOJEK has secured a fresh investment from its existing investor which was Mitsubishi Motors Corporation (MMC) and Mitsubishi Corporation. It will allow Mitsubishi to catch on the startup’s expertise and existence in the mobility consumer services in the Southeast Asia market.
According to Bloomberg which reported in February, Gojek first round closing has reached over $1 billion. Numerous giant companies such as Google, JD.com Inc, Tencent Holding Ltd, and Provident Capital became the investor for the most worth tech-startup in Indonesia.
Source: https://www.dealstreetasia.com/stories/gojek-siam-commercial-bank-144134/
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