Go-Jek Acquires Three Companies to Dominate Payment in Indonesia

Posted on December 14, 2017 by Patamar Capital

Go-Jek, Indonesia’s biggest ride-hailing service, agreed to acquire three local financial-technology companies, underscoring its ambition to become the dominant player in the country’s nascent digital-payments industry.

The deals bring together Kartuku, Indonesia’s largest offline payments-processing company; Midtrans, the nation’s top online-payment gateway; and Mapan (RUMA), a local community-based saving and lending network and Patamar Capital portfolio company, Go-Jek said in a statement Friday.

The CEOs of each of the three acquired companies will take senior management roles at Go-Jek. Kartuku’s Thomas Husted will become Go-Jek’s CFO, while Mapan’s Aldi Haryopratomo will lead Go-Pay, and Midtrans’s Ryu Suliawan will lead Go-Jek’s merchant platform.

Read more about this acquisition on Bloomberg Technology.

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