- Atome CEO David Chen moved to GoTo Financial.
- Chen will lead consumer lending at GoTo, bringing experience from Atome.
- The shift highlights the fluid talent movement in competitive Southeast Asian fintech.
In a move mirroring recent executive shifts within Southeast Asia’s booming startup scene, David Chen, CEO of Buy Now, Pay Later (BNPL) player Atome, has stepped down to join GoTo Financial, the fintech arm of Indonesia’s GoTo Group.
Chen will lead GoTo Financial’s consumer lending division, bringing over a decade of experience in tech and finance to the table.
Why are executives on the move?
Chen’s departure adds to a string of high-profile exits from regional startups this year, including CEOs and co-founders from Carousell, Modalku, and 17Live.
Meanwhile, GoTo Financial, formed through the merger of Indonesian giants Gojek and Tokopedia, offers established services like the GoPay digital wallet and GoPay Later BNPL product.
GoTo Financial has been actively expanding its reach, launching a standalone GoPay app in August 2023 and recently partnering with Bank Jago to introduce GoPay Tabungan by Jago, a bank account accessible through the GoPay and Gojek apps.
Navigating new leadership
Atome, under Chen’s leadership, grew into a leading BNPL platform across five Southeast Asian nations. Its parent company, Advance Intelligence Group, boasts a valuation of roughly US$2 billion and counts backers like SoftBank’s Vision Fund, Warburg Pincus, and EDBI.
While Chen transitions to GoTo Financial, he will remain co-founder of Advance Intelligence Group, leaving his mark on the company he steered for several years.
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This executive shift highlights the dynamic nature of Southeast Asia’s fintech landscape, where competition is fierce and talent movement is fluid.
It will be interesting to see how Chen’s expertise shapes GoTo Financial’s future and how Atome navigates the transition under new leadership.
