Indonesia’s Ride-hailing giant Go-Jek has secured an investment from Siam Commercial Bank, the largest Thai lender which King Maha Vajiralongkorn is its biggest shareholder.
however unclear on how much Thailand’s biggest bank is investing in Go-Jek, as
the matter is private.
Siam Commercial is counting on the potentially aggressive online growth to help increase their revenue.
Commercial Bank is Thailand’s oldest homegrown lender, established over a
century ago by royal charter.
Go-Jek, which first debuted its app for hailing motorbike taxis in Jakarta, Indonesia back in 2015, is expanding beyond Indonesia to cater to consumers across Southeast Asia.
Go-Jek is currently valued at US$10 billion. It also hosts more than 20 on-demand services on its platform from food delivery to cab-hailing.