Facebook is investing an undisclosed amount in Gojek, an application based in Indonesia that enables people to order food, shop, plan their commutes and make digital payments across Southeast Asia.
The move follow’s Facebook’s $5.7 billion investment in Indian telecommunications operator Jio Platforms, revealed in April.
WhatsApp chief operating officer Matt Idema said in a Newsroom post that Gojek debuted in 2015 and has given hundreds of thousands of merchants access to over 170 million people across the region, adding that its payments business processes billions of transactions each year and owns the largest e-wallet in Indonesia.
Idema pointed out that the majority of small businesses in Indonesia rely on cash due to the large portion of the population that is unbanked, and digital payments are both safer and enable more people to participate in the economy, also giving more businesses access to credit.
He wrote, “This investment will support Facebook’s and Gojek’s shared goal of empowering businesses and driving financial inclusion across the archipelago. WhatsApp helps small businesses communicate with customers and make sales and, together with Gojek, we believe we can bring millions of people into Indonesia’s growing digital economy.”