Google invests in Indonesian Uber competitor Go-Jek

Nadiem Makarim, chief executive officer of Go-Jek.

Graham Crouch | Bloomberg | Getty Images

Nadiem Makarim, chief executive officer of Go-Jek.

Google has made an investment in Indonesian ride-hailing start-up Go-Jek.

The move will be part of Google’s ambition to grow Indonesia’s digital economy in addition to also start-up scene, the tech giant said in a statement Monday.

“Go-Jek will be led by a strong Indonesian management team in addition to also includes a proven track record of using technology to make life more convenient for Indonesians across the country,” said Caesar Sengupta, vice-president of at Google’s next billion users initiative, which will be the company’s plan to target its “next billion” users around the entire world.

“This particular investment lets us partner that has a great local champion in Indonesia’s flourishing startup ecosystem, while also deepening our commitment to Indonesia’s internet economy.”

Google did not disclose the amount invested in Go-Jek.

Reports of the internet titan pouring cash into the firm first surfaced earlier This particular month. Reuters in addition to also TechCrunch reported in which the investment was part of a $1.2 billion fundraising for the company, with participation by Singapore’s sovereign wealth fund Temasek Holdings in addition to also Chinese internet firm Meituan-Dianping.

Last month, Go-Jek acquired three financial technology (fintech) start-ups for undisclosed amounts in a bid to dominate Indonesia’s digital payments industry.

A spokesperson for Go-Jek was not immediately available for comment when contacted by CNBC.

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