Indonesian holding company GoTo Group has invested $2.8M in Singapore-based horizontal marketplace specialist Carousell.
GoTo Group is the largest digital ecosystem in Indonesia, formed in 2021 as part of a merger that includes e-commerce specialist Tokopedia and on-demand delivery service Gojek.
According to its earnings presentation published in August, GoTo generated 5.8 IDR Trillion ($378M USD) in Q2 2023, a 6% YoY increase—at an EBITDA loss of $78M.
Meanwhile, Carousell's Q2 figures released in July paint a similar story—revenues grew but losses widened.
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