4/11/2018, 11:49 AM (Source: TeleTrader)
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Chart for: ALLIANZ SE NA O.N.

Allianz to pump $35M in Go-Jek

German insurer Allianz SE announced on Wednesday a $35 million investment in the Indonesian ride-hailing startup Go-Jek, expanding beyond the existing partnership that insurer's Indonesian subsidiary has with the growing ride-hailing platform. Allianz Indonesia has been providing health insurance for Go-Jek drivers and their families since last year.

“Allianz X’s strategic investment in GO-JEK underscores Allianz Group's Renewal Agenda and our commitment to digital growth businesses, particularly in emerging markets,” said Nazim Cetin, Chief Executive Officer of Allianz.

Go-Jek started as a bike taxi on-demand service, but later expanded to provide a range of online on-demand services, including transportation, logistics, payment and food delivery, becoming the leading ride-hailing provider in Indonesia and the second one in South East Asia, after the Singapore-based Grab.

Breaking the News / NI