GOJEK close to acquiring East Ventures-backed mPOS startup Moka for over $100m

Tanjo attributes the interest in Moka to the opportunities that are starting to become apparent in Indonesia’s SME market, which is seen as the backbone of the economy.

Existing investors Mandiri Capital, Convergence, and Fenox also participated in the round.

Southeast Asia's 11 unicorns are behind nearly 40 acquisitions, although not all involve local startups.

Go-Jek will use the acquisition to open its second engineering and product development center in Gurgaon.