Business Desk :
Go-Jek made the investment as a part of its “Series A funding”, the first significant round of capital venture financing.
Indonesian delivery company Go-Jek has invested around $2 million in Pathao, a Dhaka based ride sharing platform.
Go-Jek made the investment as a part of its “Series A funding”, the first significant round of capital venture financing.
Pathao CEO Hossain Elius mentioned the investment in his Linkedin profile.
Sources in Pathao also confirmed the matter. However, the ride sharing platform did not make any official announcement regarding the matter.
Go-Jek, which has more than 200,000 riders, has taken up a minority stake in Pathao following an agreement signed a few weeks ago. It is the company’s first investment in the region.
Go-Jek and Pathao are similar companies and both provide service through mobile applications.
Pathao is one of the fasted growing e-commerce service providers in Bangladesh. With the investment in Pathao, Go-Jek could spread their business in the international arena.
Pathao began as a delivery service in 2015 using its fleet of motorbikes. The service proved to be quite popular due to the growing demand for reliable e-commerce delivery services in Dhaka.
In October 2016, Pathao decided to introduce motorcycle ride sharing services after learning about Uber’s plans to introduce the service in Dhaka.
Hussain M Elius, a North South University alumnus, Shifat Adnan, a graduate from Rajshahi University of Engineering and Technology, and Fahim Saleh from Bentley University in the US co-founded the company together in 2015.
Over ten start-ups, including Chalo, Sam, Uber, Pathao, Amarbike, Amar Ride, are operating in Dhaka. Pathao has already made its services available in Chittagong.
More investment could help these companies find firmer footing in the ride sharing market which is becoming more and more competitive.
The Chinese Didi Chuxing raised $5.5 billion to fuel its global expansion and Go-Jek raised $1.2 billion to fight competitors like Uber and Grab.
Go-Jek made the investment as a part of its “Series A funding”, the first significant round of capital venture financing.
Indonesian delivery company Go-Jek has invested around $2 million in Pathao, a Dhaka based ride sharing platform.
Go-Jek made the investment as a part of its “Series A funding”, the first significant round of capital venture financing.
Pathao CEO Hossain Elius mentioned the investment in his Linkedin profile.
Sources in Pathao also confirmed the matter. However, the ride sharing platform did not make any official announcement regarding the matter.
Go-Jek, which has more than 200,000 riders, has taken up a minority stake in Pathao following an agreement signed a few weeks ago. It is the company’s first investment in the region.
Go-Jek and Pathao are similar companies and both provide service through mobile applications.
Pathao is one of the fasted growing e-commerce service providers in Bangladesh. With the investment in Pathao, Go-Jek could spread their business in the international arena.
Pathao began as a delivery service in 2015 using its fleet of motorbikes. The service proved to be quite popular due to the growing demand for reliable e-commerce delivery services in Dhaka.
In October 2016, Pathao decided to introduce motorcycle ride sharing services after learning about Uber’s plans to introduce the service in Dhaka.
Hussain M Elius, a North South University alumnus, Shifat Adnan, a graduate from Rajshahi University of Engineering and Technology, and Fahim Saleh from Bentley University in the US co-founded the company together in 2015.
Over ten start-ups, including Chalo, Sam, Uber, Pathao, Amarbike, Amar Ride, are operating in Dhaka. Pathao has already made its services available in Chittagong.
More investment could help these companies find firmer footing in the ride sharing market which is becoming more and more competitive.
The Chinese Didi Chuxing raised $5.5 billion to fuel its global expansion and Go-Jek raised $1.2 billion to fight competitors like Uber and Grab.
