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Mobile Payments

Indonesian MOKA gets another USD 2 mln to speed up product development

Tuesday 14 February 2017 | 11:00 AM CET

Indonesia`s MOKA startup has announced that it has raised another USD 2 million of funding.

In less than a year since announcing their USD 1.9 million Series A led by East Ventures, Indonesia mobile point-of-sale (POS) startup MOKA has raised another USD 2 million of funding. The round was led by Mandiri Capital with participation from existing investors Convergence Ventures, East Ventures, Fenox VC, and Northstar Group.

The Jakarta-based startup plans to use the fresh funding to “speed up” product development, stating that they aim to attract the best talents to help the process. More than that, the startup will offer vertical-specific features for F&B, retail, and services industries, though he cannot mention further details about the new features.

MOKA’s products consist of an Android and iOS mobile application used by cashiers and a web-based back office to enable SMEs to access real-time data on sales report, inventory, and customer feedback.

The startup’s SME clients are spread across F&B, retail (fashion, etc.) and services (barbershops, salons, spas, etc.) industries. More than half of them are based in Jakarta, with the rest operating in Bandung, Bali, Surabaya, and smaller Indonesian cities.

More: Link
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