Indonesia’s ride-hailing service Go-Jek is sitting in number 17 of 56 companies in Fortune’s “Change the World” list. That makes Indonesia’s first unicorn the only company from Southeast Asia to make it into the list.
Go-Jek founder and CEO Nadiem Makarim said in a statement that the recognition and achievement is the result of a collaboration between many parties that continue to support the company.
“This award motivates us to continue to commit to make a positive contribution to the government’s vision to make Indonesia Southeast Asia’s largest digital economic power by 2020,” said Nadiem as quoted by kompas.com.
Fortune compiled a list of companies considered to have income above US$1 billion per year, as well as having a social impact where it is based. The list is determined with the help from consultant and independent research firms, such as FSG and Shared Value Initiative.
The candidate company is further assessed with three main criteria, namely the question of structured social impact, business value and innovation level.
Fortune said that on-demand services company Go-Jek has jolted the economies of even famously gridlocked cities like Jakarta, where small businesses have seen their sales soar once they’ve registered on the company’s platform.
Its 300,000 driver partners are doing well, they all also get to enjoy various health benefits, insurance, safety training, even microfinancing loans.
Aside from the social impact, Go-Jek has been contributing efforts to promote financial inclusion and cashless culture in Indonesia.
All of Go-Jek partners – most of whom were formerly unbankable- now are not only bankable, as also have the opportunity to access numerous financial services including insurance, long-term deposit as well as mortgages.
Most of the customers (more than 50%) have been using Go-Pay, the company’s payment system, making it one of the fastest growing e-money providers in the country.
Go-Jek has been downloaded more than 44 million times as of July 2017.
Go-Jek’s services are considered to help improve Jakarta’s economic landscape and increase sales of small businesses listed on the platform.
The top five companies listed by Fortune include JPMorgan Chase, DSM, Apple, Novartis and LeapFrog Investments.