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Business deals

Thailand's biggest bank invests in ride-hailing unicorn Go-Jek

Siam Commercial Bank eyes fintech connection with fast-growing local app

Siam Commercial Bank will link its online banking services with Thai ride-hailing app GET. (Photo courtesy of Siam Commercial Bank)

BANGKOK -- Siam Commercial Bank, Thailand's largest lender by assets, said on July 11 it has taken a stake in leading Indonesian ride-hailing company Go-Jek and will work with the startup in mobile payments.

Both SCB and Go-Jek declined to provide details on the size of the investment, part of Go-Jek's series F funding round, which is said to be worth $3 billion.

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