GoTo posts Rp252 billion Q2 profit as fintech overtakes Gojek in profitability. GoTo's fintech arm posted a 447% surge in adjusted earnings as it adjusted its outlook after a new commission cap. Get the hottest Fintech Indonesia News once a month in your Inbox GoTo has reported a net profit of Rp252 billion for the second quarter of 2026. Its digital financial services division out-earned the on-demand transport business for the first time, as GoTo adjusted its outlook following a new ride-hailing commission cap. The parent company of Gojek and GoPay recorded a 31% year-on-year increase in net revenue to Rp5.7 trillion, while group adjusted EBITDA rose 137% to surpass Rp1 trillion. Within the group, the fintech division led growth, with adjusted EBITDA rising 447% year-on-year to Rp481 billion and net revenue increasing 53% to over Rp2 trillion. The performance pushed fintech profitability above the on-demand services division, which recorded adjusted EBITDA of Rp464 billion. Stronger customer engagement supported lending growth, with outstanding loan principal rising 58% year-on-year to Rp11 trillion. GoTo said credit quality remained stable, with steady delinquency and non-performing loan ratios. GoPay's monthly transacting users also grew 29% to 28.8 million. "Our fintech business continues to do well, with its profitability now exceeding that of our On-demand Services business for the first time, reflecting the strength and balance of our ecosystem," said Hans Patuwo, CEO of GoTo Group. The change in the company's profit mix follows the implementation of a new 8% commission cap on Gojek's two-wheel transportation business under the Minister of Transportation Decree No. 532 of 2026. Following the regulatory change, GoTo lowered its full-year adjusted EBITDA guidance for on-demand services to between Rp1.4 trillion and Rp1.5 trillion. Meanwhile, the company raised its full-year adjusted EBITDA guidance for the fintech division to between Rp1.7 trillion and Rp1.8 trillion, citing continued outperformance. GoTo maintained its overall full-year adjusted EBITDA guidance at Rp3.2 trillion to Rp3.4 trillion. The company also announced plans to cancel over 32 billion treasury shares, representing approximately 2.7% of shares outstanding, subject to shareholder approval. Featured image credit: Edited by Fintech News Indonesia, based on image by TheRainstep via Magnific

Indonesia prosecutors seek 18-year prison sentence for Gojek founder in graft case. If granted, the 18-year prison sentence would be one of the toughest punishments imposed on a former minister in recent years. 14 May 2026 11:05AM (Updated: 14 May 2026 08:08PM) Add CNA as a trusted source to help Google better understand and surface our content in search results. Read a summary of this article on FAST. JAKARTA: Indonesian prosecutors said on Wednesday (May 13) they were seeking an 18-year prison sentence for Nadiem Makarim, a former Indonesian education minister and co-founder of ride-hailing firm Gojek, over his involvement in a corruption case. He is alleged to have been involved in improper laptop procurement during the pandemic, which led to US$125.64 million in state losses. If granted, the 18-year prison sentence would be one of the toughest punishments imposed on a former minister in recent years. Nadiem, who resigned as chief executive of ride-hailing company Gojek in 2019 to serve as education minister until 2024, has been accused of enriching himself by around 809 billion rupiah (US$46.33 million) through the procurement of Chromebook laptops and Chrome OS for schools between 2020 and 2022, prosecutors have said. Nadiem created tender specifications that only fit the Chrome system to "make Google the sole controller of education ecosystem in Indonesia", prosecutors alleged. In a hearing on Wednesday in a Central Jakarta corruption court, prosecutors said Nadiem's role in the case while serving as a minister violated the government's anti-corruption pledges and harmed the education system. The Chromebook laptops were purchased even though the ministry had determined in 2018 that their use for learning would require an internet connection, making them unsuitable for Indonesia, where internet availability is a major issue in remote areas, prosecutors told the court. The ministry still went ahead with the purchase of the Chromebooks after Makarim met with representatives of Google Asia Pacific and Google Indonesia several times in 2020, prosecutors said. Makarim was detained in September along with several top officials from his ministry. He had denied wrongdoing, his lawyer Ari Yusuf Amir has said. Nadiem's counsel was disappointed with the demands as prosecutors ignored new evidence presented in court, Amir told Reuters on Wednesday. He said he was expecting a verdict to be reached in June. Nadiem told news outlet Tech in Asia last month that his case could spook foreign investors in Indonesia. "I think it could be quite devastating," he said. The court has so far imposed jail sentences of up to four-and-a-half years on three officials linked to the ministry for their involvement in the case, including a technology consultant sentenced late on Tuesday.