Newly-formed GoTo to heat up fintech battle in South-east Asia

Singapore

THE merger of Indonesian tech giants Gojek and Tokopedia solidifies the three-way battle for South-east Asia's fintech market, with the newly-formed GoTo Group having added firepower against Sea and Grab, industry observers told The Business Times (BT).

Financial services has been tipped as a major growth driver for the region's tech giants. However, some watchers reckon that even with the merger, GoTo still lacks the scale of its rivals that operate heavily in regional markets.