Go-Jek is looking at a Southeast Asia-wide expansion following this move
Indonesian Ride-hailing company Go-Jek announced on Tuesday that it will partner with three peer-to-peer (P2P) lending firms, as reported by Reuters. The move is a part of the startup’s strategy to expand its financial technology services across Southeast Asia.
The local Indonesian P2P lenders to partner with the eight-year-old company are Findaya, Dana Cita and Aktivaku. The partnership will be different from its online payment system Go-Pay.
With Indonesia’s government being open and welcoming toward the P2P lending platform trend, Andre Soelistiyo, Go-Jek’s president is optimistic in widening the company’s range.
“A collaboration between financial services providers and technology companies can reach especially people who have difficulty accessing financial services, such as unbanked communities,” Soelistiyo added.
P2P lending allows small-business owners or individuals without access to bank credit to get loans. For Indonesia, a country with its intricate bank lending system, this means alleviating a total of financing shortfall estimated at more than US$73 billion.
“We look forward to increasing financial inclusion in Indonesia through this collaboration,” said Hendrikus Passagi, the man behind fintech regulatory in Indonesia’s Otoritas Jasa Keuangan (OJK).
Backed by Google’s Alphabet and Tencent Holdings. Go-Jek has its strength in the 250 million-strong market in its home country. Nadiem Makarim, its founder, has revealed in August that the platform is used by 20 million to 25 million users monthly with a total of 100 million transactions.
Image Credit: Go-Jek
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