Indonesian tech firm GoTo raises over $1.3 billion in first close of pre-IPO funding

- Advertisement -


SINGAPORE (Businesshala) – Indonesia’s largest tech firm, Goto Group, said on Thursday it had raised more than $1.3 billion in the first close of its pre-IPO fundraising, backed by investors including Fidelity International, Google and Tencent had gone.

- Advertisement -

Sources previously told Businesshala here that GoTo, formed by the merger of ride-hailing-to-payments firm Gojek and e-commerce leader Tokopedia in May, was set to complete a pre-IPO funding exercise to raise up to $2 billion , but threatened regulatory delays to advance its plan to list in Jakarta early next year.

- Advertisement -

Gojek’s new investors include Malaysia’s largest fund manager, Permodalan National Bhd, Chinese private equity firm Primavera Capital Group and Fidelity.

More investors are expected to join the pre-IPO fundraising round before the final closing in the coming weeks, Goto said in a statement.

- Advertisement -

Last month, GoTo entered into an agreement with the Abu Dhabi Investment Authority, under which the Middle Eastern Sovereign Wealth Fund will lead the pre-IPO funding with an investment of $400 million.

Goto’s largest investors include Alibaba Group Holding, SoftBank Vision Fund 1, Singapore Sovereign Wealth Fund GIC and Tencent.

Reporting by Anshuman Daga; Editing by Muralikumar Anantharaman and Lincoln Parv.

,

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox