Gojek vs. Grab: Game Changer in Southeast Asia’s Fintech

By Editorial Team 21/09/2020
Fintech
Summary

Indonesia’s financial technology (fintech) market has become a magnet for venture capital (VC) amid the COVID-19 pandemic. The latest Pulse of Fintech research from KPMG shows that fintech transactions in Indonesia recorded the most considerable value in the first half of 2020 through the VC funds at Gojek and Grab, totaling up to US$ 3 billion and US$ 886 million, respectively. For the record, the total global fintech transactions could reach US$ 25.6 billion, involving 1,221 transactions during the first half of 2020.

Of the total transactions, about US$ 20billion was from VC fund injection in the global fintech industry, followed by US$ 4 billion from merger and acquisition (M&A) transactions, and the remaining US$ 1.6 billion was from private equity (PE) activities. In the Asia Pacific market, fintech transactions reached US$ 8.1 billion during the first half of this year. For comparison, the total fintech transactions in the Asia Pacific hit US$ 20.6 billion throughout 2019.

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