Go-Jek announces partnership with 3 P2P lending firms

Prisca Akhaya
Go-Jek announces partnership with 3 P2P lending firms

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.

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“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).

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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.

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Image Credit: Go-Jek

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