Chinese Internet giant Tencent has led a new round of investment totaling $1.2 billion in Indonesian mobile ride-hailing and delivery service provider Go-Jek, industry website techcrunch.com reported on Thursday, citing two sources close to the matter.
The deal, which was reportedly signed last week, valued the company at $3 billion, the report said. Other investors in the round aren't known.
Go-Jek is one of Indonesia's largest start-ups by valuation and a market leader in the country.
In August 2016, Go-Jek raised $550 million from KKR and Warburg Pincus, which pushed up the company's market value to $1.3 billion, according to media reports.
The motorbike on-demand start-up competes with Uber and Singapore-based Grab in the Indonesian market. All of these companies have introduced bike taxi services because "two wheels" is considered a more efficient way to navigate in the country's congested cities, techcrunch.com said.
Go-Jek has more than 200,000 drivers across 25 cities in Indonesia.
