GoTo Financial: Former Atome CEO David Chen Joins to Help Define Long-Term Strategy

David Chen officially resigned from his position as CEO Atom, then he will join GoTo Financial as Head of Consumer Lending.

He is also one of the Co-Founders of Advance Intelligence Group, a startup fintech based in Singapore. Apart from Atome, the group also operates services Smart Credit and platform e-commerce enablers Ginee in Indonesia.

Before the focus becomes technopreneur, David has worked at various well-known technology companies, such as Yahoo!, Microsoft and Amazon. He is also the founder of lifestyle app Nestia and careers platform Matchimi in Singapore.

At GoTo Financial, David will focus on accelerating the unit lending, including GoPay Later, GoPay Pinjam, GoModal services, as well as the financial units that drive these platforms such as PT Multifinance Anak Bangsa and Findaya.

"David Chen joins GoTo Financial to help define GoTo Financial's long-term strategy, ensuring we can continue to provide optimal financial services within the GoTo ecosystem through strong synergies. We are confident that David's expertise, experience and deep understanding in the technology and financial industries "will be very valuable for the company," said Head of Corporate Affairs GoTo Financial Audrey Petriny.

For your information, Advance Intelligence Group has raised more than $700 million in funding in total. One of the investors The main one is Northstar Group, an investment company led by Patrick Walujo who is now CEO of GoTo Group.

Strengthening GoTo's financial business is one of Patrick's priorities. Since taking office he has begun to reorganize the company structure a lot, including releasing several units that are not significantly related to his core business, one of which is now GoPlay spin off and rebranding so Everywhere.id.

Tiktok's recent agreement on majority share ownership of Tokopedia is also a strong signal that GoTo will sharpen focus business on the line on-demand and fintech only, instead of taking part in the chaos of the market E-commerce.

"We can now accelerate progress supported by our ecosystem partners. As profitability and cash flow improve, we will optimize the use of capital in line with new capital allocation plans, which may include initiatives buyback shares, depending on regulations and shareholder approval," said Patrick Walujo in his official statement released regarding the transaction with TikTok Shop.

As for the business structure fintech GoTo is actually complete from end to end, starting from providing payment services via Gopay, loans via GoPaylater, banking via Bank Jago, investment via GoInvestasi, to supporting infrastructure via Midtrans.