GoTo, Grab face off over mutual funds in Indonesia

Start-up giants GoTo - the merged entity of Tokopedia and Gojek (left) - and Grab (right) seek to make online investing in mutual funds in Indonesia a fast and easy experience, like it is with their ride-hailing and food delivery services. GoTo-backe
Start-up giants GoTo - the merged entity of Tokopedia and Gojek (left) - and Grab (right) seek to make online investing in mutual funds in Indonesia a fast and easy experience, like it is with their ride-hailing and food delivery services. GoTo-backed Bank Jago has agreed to tie up with mutual funds portal Bibit, the arch-rival of Bareksa, partly owned by Grab's OVO.PHOTO: AGENCE FRANCE-PRESSE, KELVIN CHNG
Start-up giants GoTo - the merged entity of Tokopedia and Gojek (left) - and Grab (right) seek to make online investing in mutual funds in Indonesia a fast and easy experience, like it is with their ride-hailing and food delivery services. GoTo-backe
Start-up giants GoTo - the merged entity of Tokopedia and Gojek (left) - and Grab (right) seek to make online investing in mutual funds in Indonesia a fast and easy experience, like it is with their ride-hailing and food delivery services. GoTo-backed Bank Jago has agreed to tie up with mutual funds portal Bibit, the arch-rival of Bareksa, partly owned by Grab's OVO.PHOTO: AGENCE FRANCE-PRESSE, KELVIN CHNG

Two start-up giants, GoTo and Grab, have entered a new battleground in Indonesia, seeking to make online investing in mutual funds a fast and easy experience, like with their ride-hailing and food delivery services.

The relatively new online mutual funds industry has benefited from a surge in retail investing from stuck-at-home millennials trying their hand at investment with the money that they would otherwise have spent on holidays or elsewhere if not for the pandemic.

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A version of this article appeared in the print edition of The Straits Times on July 12, 2021, with the headline 'GoTo, Grab face off over mutual funds in Indonesia'. Subscribe