Indonesian startup GoTo raises $1.3 billion from Google, Tencent and others
Updated: Nov 19, 2021
● The round was led by investment funds Abu Dhabi Investment Authority, Avanda Investment Management, Fidelity International, and Google. It was also attended by Permodalan Nasional Berhad, Primavera Capital Group, SeaTown Master Fund and others, writes Joseph Marc Blumenthal .
● Fintech startup GoTo was formed in 2021 after the merger of the app developer for access to transport, logistics, ordering, food delivery services Gojek and the PT Tokopedia online store. GoTo will offer services from car sharing to online shopping and delivery.
● According to sources of the publication, the companies together were valued at about $18 billion, the shareholders of Gojek were to receive 58% of the new company, the owners of Tokopedia - the rest of the share.
● In July, Bloomberg revealed that the company plans to raise up to $2 billion, with an estimate of $25 billion to $30 billion, ahead of an IPO in Indonesia and a subsequent listing in the United States, expected in late 2021. The company plans to receive an estimate from $35 billion to $40 billion.