Once riding high as a national champion, a dwindling cash position amid difficult fundraising prospects has raised concerns about Indonesian technology giant GoTo’s business.
GoTo, whose gross transaction volume at 451.5 trillion rupiah accounts for a substantial share of Indonesia’s GDP of 5,091 trillion rupiah, now has a weaker cash position than most of its competitors in the region, including Sea Group and Grab, as analysts DealStreetAsia spoke to point out.