The Go-Jek business is expected to skyrocket with capital injections from various investors. The collective investment received by application-based on demand service providers is estimated to have been heading US $ 1.2 billion.
Fresh capital received by Go-Jek from two companies, PT Astra International Tbk and PT Global Digital Niaga (GDN), is projected for the development of various businesses.
Economist from Institute for Development of Economics and Finance (Indef), Bhima Yudhistira Adhinegara, said the Go-Jek investors are eyeing more business potential than just transportation services. "Because Go-Jek now plays in financial technology, like Go-Pay, and this is beginning to shift the banking business.
PT Astra International Tbk and PT Global Digital Niaga (GDN) are new to Go-Jek as an effort to expand the market. Astra is currently investing up to US $ 150 million or around Rp 2 trillion. The capital of GDN is estimated to be around Rp 1.5 trillion.
According to Bhima, the features of 'electronic purse' such as Go-Pay match with Blibli service, GDN's online store. Go-Jek, in this case, becomes a bridge of payments and services among goods. "The power of Go-Jek is its many drivers, so it can be an agent for payment and delivery."
Astra's investment, the largest revenue from automotive business, is considered fair. "Astra can support the motor vehicle facilities for Go-Jek driver, so the financier is expected to grow.
Economist from PT Bank Permata, Josua Pardede, said investors are most interested in Go-Jek database. Information from application providers, he said, is useful for monitoring consumer behavior. "Can be seen in big data, this is more valuable.
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The Go-Jek business, which is capital intensive, or moves on the basis of investors' capital, is also considered more profitable in terms of licensing. "Unlike the manufacturing sector, the factory must take care of many permits," he said.
Chief Executive Officer of GDN, Kusumo Martanto, did not rule out if his side will develop logistics services with Go-Jek. "Or merchandising," he said in an official statement.
GDN is eyeing the broad reach of Go-Jek consumers. Go-Jek was considered qualified to develop applications according to public needs.
The President and Go-Jek co-founder Andre Soelistyo ensured that his company develops business opportunities with its new investors. At the beginning of the year too, Go-Jek has pocketed funds from a number of investors such as Google and Temasek Holdings. "As a local player, GDN has an in-depth experience on the opportunities and challenges of the digital economy sector," said Andre.
CEO of Go-Jek Nadiem Makarim also called Astra investment as the largest in the digital field. Work connections with Astra, according to him, could lead to aspects of vehicle and distribution.
The government is also waiting for domestic investors to strike the start-up. According to the Director General of Applications and Informatics of the Ministry of Communications and Informatics Semuel Abrijani Pangerapan, capital for local start-ups more often comes from foreign parties.
"Because foreign players are already familiar with start-up work, on the other hand, domestic investors are even waiting and see," he told Tempo.
According to him, digital-based business has been made easier by the government. He cited the 14th Economic Policy Package related to electronic commerce, as well as the Financial Services Authority rules on fintech.
"If more goods and suits are sold, more money is circulating and employment increases.