Gojek said to be spinning out financial services arm

Gojek driver helmets are seen during Go-Food festival in Jakarta, Indonesia, October 27, 2018. REUTERS/Beawiharta

Ride-hailing unicorn Gojek is learnt to be spinning out its financial arm, Go-Finance, into an independent entity called Digital Katalis, or Dkatalis.

Dkatalis is currently understood to be in the process of hiring employees across the region and moving Go-Finance staff to the new entity.

The development was first reported by Tech in Asia.

In response to DealStreetAsia queries, Gojek said it did not comment on market speculation.

In a filing with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore, Dkatalis Private Limited describes itself as a technology platform for financial services.

The filing also shows one of its directors is Jerry Ng, likely to be the same person who, along with early Gojek investor and PE firm Northstar Group founder Patrick Walujo, is in the process of acquiring a 51 per cent stake in Bank Artos in Indonesia.

Speculation about Bank Artos’s relationship with Gojek has been rife since it announced the sale of a majority stake in August to Hong Kong-based Wealth Track Technology (WTT) and Jakarta-based IT service provider Metamorfosis Ekosistem Indonesia (MEI) for an undisclosed amount.

WTT is owned by Walujo while MEI was founded by Jerry Ng, a former chief executive at small lender Bank Tabungan Pensiunan Nasional (BTPN) who transformed the company into a tech-based bank.

On its Linkedin page, Dkatalis says the company is created by “visionaries who brought you the first banking reinvented in Indonesia,” a likely reference to BTPN and Ng. It also mentions that the company has the same vision as Gojek and is, therefore, collaborating with the unicorn.

For Gojek, a partnership with an existing bank would give it ready access to an OJK banking licence, which it needs in order to roll out digital banking services.

Dkatalis’s ACRA filing also states that its shareholders include Singapore-founded fintech firm Neuroncredit, private investment firm Freemantle Capital, Jetway Wealth Management Limited, investment fund Prometheus Investing Limited, and Aeroville United Inc.

Established in Singapore in 2015, Neuroncredit operates in Indonesia as Kredit Pintar and as Atome in the Philippines. Kredit Pintar, which has secured a licence from Indonesia’s Financial Services Authority (OJK) has previously said it plans to expand into three more countries in the near future.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.