Gojek adds AIA Financial to its growing list of Series F investors

Gojek and AIA Financial will provide life and health insurance services for users, drivers, and merchant throughout Indonesia.

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Southeast Asian on-demand unicorn Gojek announced Wednesday it has partnered as well as bagged an undisclosed amount of investment from insurance company AIA Financial (also known as AIA Indonesia) as part of the former’s ongoing Series F funding round.

Till now Gojek has reportedly raised USD 1.6 billion in the ongoing round. Gojek has been scouting for funds to the tune of USD 2-3 billion in its Series F round since October last year and its president Andre Soelistyo believes the company is on track to achieve the target.

“Series F has seen some of the world’s most impact-driven businesses join the Gojek movement and the addition of AIA Indonesia will allow us to bring about even more positive change,” Kevin Aluwi, Co-founder, Gojek said in a statement.

The tie-up between Gojek and AIA Indonesia will allow Indonesia’s one of the biggest insurer to offer its products such as life and health insurance services as well as wellness propositions to Gojek’s users, drivers, and merchants, across the country. According to the company statement, the partnership aims to raise the awareness of life and health insurance solutions in the country.

Digital insurance is the next big thing in Indonesia’s fintech sector and many players including Gojek itself, have been experimenting with various insurance products in the recent years. In July, the Jakarta-based ‘super-app’ released GoSure feature in partnership with Indonesian insurtech startup PasarPolis, an extension of the two-year-old collaboration between the two companies.

Marking its first investment in Indonesia, last year the German insurance giant Allianz Group, through its digital investment unit, Allianz X invested USD 35 million in Gojek. As a part of the partnership, Allianz X provides health insurance services to Gojek’s drivers and their families.

This year, Gojek has secured investments from Visa Inc., Thailand’s Siam Commercial Bank, Mitsubishi Motors Corp., Mitsubishi Corp. and Mitsubishi UFJ Lease & Finance Co. Most recently, U.S-based tech behemoth Amazon is reportedly in talks with Gojek for a potential investment, which if goes through, would mark Amazon’s most notable investment in Indonesia.