Gojek nabs investment from Mitsubishi for Series F round

The new investment will allow Mitsubishi to tap into Gojek's expertise and presence in the mobility and consumer services market in the region.
The new investment will allow Mitsubishi to tap into Gojek's expertise and presence in the mobility and consumer services market in the region.PHOTO: ST FILE

SINGAPORE - Ride-hailing company Gojek has secured investment from Mitsubishi Motors Corporation and Mitsubishi Corporation, and another from Mitsubishi UFJ Lease & Finance, as part of its ongoing Series F funding round. Both amounts were undisclosed.

Mitsubishi Corporation is an existing Gojek investor, having participated in the first phase of its Series F round, which raised over US$1 billion (S$1.36 billion) when it closed on Feb 1, led by Google, JD.com and Tencent.

The new investment will allow Mitsubishi to tap into Gojek's expertise and presence in the mobility and consumer services market in the region.

"Bringing Mitsubishi Motors and Mitsubishi Corporation's long and strong presence and brand power in South-east Asia, as well as Gojek's diversified and unique business potential together, we foresee the creation of large synergies and innovation that will boost the growth of the three parties," said Mitsubishi Motors Corp chairman Osamu Masuko.

Mitsubishi UFJ Lease & Finance president and CEO Takahiro Yanai said the financial services provider will reinforce its partnership with Gojek and explore new business models focused on digital and mobility services.

"These partnerships and commitments enable us to continue growing our products and services to reach more people and create greater value in the region," said Gojek group president Andre Soelistyo.