September 17, 2018 / 6:17 AM / 3 months ago

Indonesia's Go-Jek seeks to raise $2 bln for Southeast Asia expansion-sources

SINGAPORE, Sept 17 (Reuters) - Indonesian ride-hailing firm Go-Jek aims to raise about $2 billion from existing investors, including Tencent Holdings Ltd and JD.com, to fund its expansion plans in Southeast Asia, sources familiar with the matter said on Monday.

Go-Jek’s fundraising comes as its main rival Singapore-based Grab is also building a war chest to transform itself into a consumer technology group and aggressively grow in Indonesia, Southeast Asia’s biggest economy.

Go-Jek declined to comment. There was no immediate response from Tencent and JD.com when contacted by Reuters.

Go-Jek founder and CEO Nadiem Makarim told Reuters last month the company was seeing strong funding interest from its backers as it targets an aggressive expansion. (Reporting by Anshuman Daga; Additional reporting by Fanny Potkin in JAKARTA; Editing by Darren Schuettler)

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