More $$$ for GoTo Group! The Indonesian tech giant, which offers ride-hailing and e-commerce services, just raised $150M via a sale of equity-linked bonds.

Investor check. The World Bank’s International Finance Corporation (IFC) led the round, investing $125M, while Franke & Company invested $25M. 

• Not just $$$. The partnership also includes support to help GoTo transition its delivery fleets to electric vehicles.

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✅ The GoTo ecosystem

As one of the biggest tech operators in Indonesia, GoTo has operations spread across Gojek, Tokopedia, GoTo Financial, and GoTo Logistics. 

• Rewind. GoTo grew its platform via a series of acquisitions, the latest deal being Swift Logistics Solution earlier this year. 
• They also filed for IPO just last year.

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💚 Green eyes

That said, their path to profit hasn’t been easy.

• In March this year, they laid off 600 employees to make the company more ‘agile’ and maintain growth amid challenging market conditions. 
• Before that, they let go of 1,200 employees.

And their climate goals? Last year, they announced that they are looking to convert 100% of their driver fleet to electric vehicles by 2030 through their Zero Emissions program. 

• They also have a Zero Waste (for waste reduction efforts) and Zero Barriers (for people empowerment initiatives) program. 

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🏍️ In the horizon

GoTo and IFC will work together to widen financial inclusion in Indonesia (where 97M adults remain unbanked).

• They’ll also double down on GoTo’s environmental, social, and governance strategy.