ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Capital Markets

German insurer Allianz buys $35m stake in Go-Jek

Competition in Indonesia's ride-hailing market intensifies after Uber exit

Go-Jek had 1 million motorbike and car drivers in Indonesia as of December. (Photo by Shinya Sawai)

NUSA DUA, Bali -- German insurance company Allianz Group has invested $35 million in Go-Jek, a welcome boost for the Indonesian ride-hailing platform amid fierce competition in its home country with Singapore-based Grab.

The investment, made by the insurer's digital investment unit, was announced on Wednesday. Allianz's Indonesian unit had already entered a strategic partnership with Go-Jek, whereby it provided health insurance services to drivers and their families.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more