Indonesia's first home-grown unicorn, Go-Jek, is buying three up-and-coming fintech companies in the country to reinforce its leading position in the payments market.
The start-up, backed by KKR, Warburg Pincus and Tencent, has entered into definitive agreements to acquire offline payments processing operator Kartuku, online payments provider Midtrans, and Mapan, a community-based saving and lending network, for undisclosed terms, Go-Jek announced on Friday.
The deal is intended to expand the use of its Go-Pay digital wallet to plug daily needs as Southeast Asia's most populous country moves towards a cashless society.
Go-Jek is trying to build an inclusive payment ecosystem...
¬ Haymarket Media Limited. All rights reserved.
