Go-Jek backers offer $1b in new funding for overseas expansion

Go-Jek motorcycle drivers and bajaj drivers wait for fares in Jakarta, Indonesia. Photographer: Dimas Ardian/Bloomberg

Go-Jek, the Indonesian ride-hailing provider, has been offered at least $1 billion of new funding from existing investors eager to accelerate its overseas expansion, people with knowledge of the matter said.

Current backers including Tencent Holdings Ltd., China’s biggest internet firm, and Warburg Pincus have informally discussed providing more funding to ensure Go-Jek’s first forays outside its home market are successful, according to the people. Go-Jek hasn’t decided whether it wants the additional capital, the people said, asking not to be identified because the information is private.

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