Go-Jek raises fund from Siam Commercial Bank to enter financial services

Go-Jek

Thai ride-hailing startup, Go-Jek has now raised fresh funding from Siam Commercial Bank plc.

Go-Jek said it raised a significant amount from the bank to increase its service offering into financial services.

Valued at about $10 billion after raising up to $1 billion in funding this year, the Thai ride-hailing company will now offer lending, insurance and other financial services via its app.

In a statement issued to reporters at a news conference, SCB President Arak Sutivong said: “Our products will be connected, SCB will oversee finance while Go-Jek and Get will look at digital and logistics.”

“We have more than 20 services, in Indonesia…we will pick and choose the best playbook for Thailand and carefully curate that,” he said adding that the company will focus on food delivery side of things.

Go-Jek started in 2011 morphing into a food scale food ordering, payment and logistics company.