Indonesia’s GoTo Nabs $150 Million Investment Led by IFC

GoTo Group raised $150 million through a convertible bond sale to investors led by the World Bank’s International Finance Corp., a bump to its cash reserves as the Indonesian ride-hailing and e-commerce company works toward reaching profitability.

The investment includes $125 million from IFC and $25 million from private investment firm Franke & Co., GoTo said in a statement on Tuesday. Through the pact, GoTo and the investors seek to tackle climate change and ensure more people will benefit from the digital economy.

Patrick Walujo

Photographer: Vivek Prakash/Bloomberg

The debt round, which features a conversion price of 135 rupiah (less than 1 US ...