Gojek and Tokopedia on Monday (17 May) announced their partnership. The two companies will form GoTo Group led by Andre Soelistiyo as CEO and Patrick Cao as president. Kevin Aluwi and William Tanuwijaya will remain as CEO of Gojek and Tokopedia, respectively.

GoTo Group integrates three business lines, namely financial, e-commerce and on-demand services, into a single company. Both parties claimed GoTo as the first company in Southeast Asia to merge three business entities into one platform.

The merger is projected to contribute 2% to the country’s GDP. Both companies in 2020 recorded $1.8 billion worth of transactions combined. As of 2020, Gojek has 2 million registered drivers while Tokopedia has 11 million merchants.

“Gojek drivers will deliver more Tokopedia packages, merchants will receive benefits from strengthened business solution and we will use our combined scale to increase financial inclusion in developing areas with uncharted potential for growth,” said Andre in a press release quoted from CNBC Indonesia.

The merge is supported by several investors, namely Alibaba Group, Astra International, BlackRock, Capital Group, DST, Facebook, Google, JD.com, KKR, Northstar, Pacific Century Group, PayPal, Provident, Sequoia Capital India, Temasek, Tencent, Visa and Warburg Pincus.