Goldman Sachs Group, one of the world’s leading investment banks, has significantly boosted Japan’s prominent taxi-hailing provider, Go, by becoming its largest startup investor in the country. During its most recent fundraising round, Tokyo-based Go achieved a remarkable valuation of 135 billion yen (equivalent to approximately S$1.31 billion). This investment has propelled Go to the esteemed status of a ‘unicorn’ company.
In a noteworthy development, Go managed to secure an impressive investment of 10 billion yen directly from the prestigious Wall Street firm. By actively approaching financial institutions, the taxi app operator successfully garnered support from Goldman Sachs. Additionally, Go secured a 3 billion yen loan line from MUFG Bank and a 1 billion yen line of credit from Sumitomo Mitsui Trust Bank.
In an interview, President Hiroshi Nakajima expressed the company’s strategic intentions behind seeking investments from non-Japanese financial players. He stated their objective is to bolster their resources for new business endeavors and broaden their stakeholder base. By inviting non-Japanese financial institutions, Go aims to diversify its network of supporters. This strategic move aligns with the company’s vision of pursuing an initial public offering (IPO) within the coming years.
