GoTo Group raises $1.3 billion

After Indonesia’s ride-hailing giant Gojek and e-commerce platform Tokopedia merged to form GoTo Group in May this year, the company announced today it has secured more than $1.3 billion in the first close of its pre-IPO funding. The latest round was led by Abu Dhabi Investment Authority with participation from Fidelity International, Google, Temasek, Tencent and other prominent investors.

According to media reports, GoTo Group’s valuation is estimated at between $28.5 billion and $30 billion.