The problem
Indonesia’s 280 million people moved, ate and shopped through informal channels: street-hailed ojek drivers with negotiable fares, fragmented food stalls with no delivery, and small merchants operating entirely in cash — invisible to banks and unreachable by any single platform.
How it works
GoTo Group was formed in 2021 by the merger of ride-hailing giant Gojek with marketplace pioneer Tokopedia, uniting on-demand services, e-commerce and financial technology under one ecosystem (TechCrunch, Mar 2022). Consumers hail rides, order food and parcels through Gojek, shop on Tokopedia, and pay and borrow through GoPay. The group raised more than $1.3B in pre-IPO funding from investors including Google, Tencent, Temasek and SoftBank, then raised at least $1.1B in its April 2022 Jakarta IPO. Management now consolidates its AI initiatives under one programme aimed at lowering the cost to serve and lifting engagement and conversion.
Pain points
Unreliable transport in congested cities, no dependable food delivery beyond big chains, cash-only warungs and drivers excluded from credit, and merchants juggling separate apps for sales, delivery and payments.
Business model
Take rates on mobility and delivery orders, e-commerce transaction and service fees, GoPay payment flows, and interest income on a loan book that reached Rp9.9 trillion in Q1 2026 (+59% YoY) with, the company says, stable credit quality.
Challenges
The group held full-year adjusted EBITDA guidance at Rp3.2–3.4 trillion citing macro uncertainty; mobility GTV dipped 3% in Q1 on seasonality; regulators periodically squeeze commissions; and fintech’s rapid loan growth must stay clean to keep the profitability story intact.
Funding
- Raised: $1.3B+ pre-IPO (ADIA, Google, SoftBank, Temasek, Tencent, Fidelity) plus at least $1.1B in the April 2022 IDX IPO (TechCrunch, Mar 2022).
- Valuation: public company — no private valuation to report.
Latest — July 2026
GoTo posted a Q2 2026 net profit of Rp252 billion — its second consecutive profitable quarter after Q1’s first-ever Rp171 billion profit — with adjusted group EBITDA passing Rp1 trillion for the first time, annual transacting users up 19% to 71 million, core GTV up 83% to Rp164 trillion, and a planned buyback of ~32 billion treasury shares (~2.7% of outstanding).