The Venture Codex

Participated · Equity · Nov 2021

GoTo Group combines ride-hailing (Gojek), e-commerce (Tokopedia) and GoTo Financial into a single ecosystem serving consumers and merchants across multiple verticals. The company is creating synergies across transport, e-commerce, food and grocery delivery, logistics and financial services to expand its market reach. GoTo says it generated more than 1.8 billion transactions in 2020 with gross transaction value exceeding $22 billion, which it says contributed to more than 2% of Indonesia’s GDP. The group plans to use recent funding proceeds to fuel growth and bolster customer service. GoTo is preparing for a dual listing in New York and Jakarta later this year. Media reports estimate the company’s valuation between $28.5 billion and $30 billion; the company declined to comment on valuation.