GoTo Group has announced that it has received US$150 million from the International Finance Corporation (IFC), a member of the World Bank Group, and private investment firm Franke & Company, to boost financial inclusion and sustainability across Indonesia.
The parties will collaborate on driving financial inclusion in Indonesia, where 97 million adults remain unbanked, and strengthen and refine GoTo’s ESG execution strategy.
The partnership with the IFC also includes non-financial support to help the company transition its fleet of driver-partners and delivery partners to electric vehicles, improving operational efficiency and integrating more sustainable business practices to achieve carbon neutrality.
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Patrick Walujo, GoTo Group CEO, said: “This partnership will provide additional support for our business as we seek to improve life for our customers, including consumers, driver partners and merchants, enabling them to achieve their financial goals and dreams.”
In its approach to the ESG issues most material to the company and ecosystem, GoTo has established the Three Zeros commitments – Zero Emissions, Zero Waste, and Zero Barriers by 2030.
As per a press release, significant progress has been made to date, including an ongoing electric vehicle trial in South Jakarta, shifting to renewable energy for its direct operations, reduction in excessive packaging and single-use waste from on-demand and e-commerce services, and initiatives to facilitate financial inclusion and sustainable livelihoods for its driver-partners and merchants, among others.
GoTo Group is one of the largest digital ecosystems in Indonesia. The ecosystem consists of on-demand services (mobility, food delivery, and logistics), e-commerce (third-party marketplaces + official stores, instant commerce, interactive commerce, and rural commerce), fintech (payments, financial services, and technology solutions for merchants) and logistics (fulfilment and delivery) through the Gojek, Tokopedia, GoTo Financial and GoTo Logistics platforms.
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