Gojek nears $120m deal to acquire Jakarta-based mobile PoS startup Moka

A Go-Jek motorcycle taxi driver and a passenger travel along a road in Jakarta, Indonesia, on Saturday, Aug. 4, 2018. Photographer: Dimas Ardian/Bloomberg

Indonesia’s ride-hailing giant Gojek is close to acquiring a mobile point-of-sale startup called Moka for at least $120 million, as it aims to become a leading player in the country’s digital payments industry, according to people familiar with the talks.

Jakarta-based Moka helps owners of restaurants, coffee shops and retail outlets manage payments. The Moka app, which can be downloaded to a tablet or smartphone, lets merchants accept debit and credit cards or mobile payments like Alipay. It also provides analytics to help track sales and inventory, run loyalty programs and manage employees.

A Gojek representative declined to comment, while a Moka official didn’t immediately respond to requests for comment.

Gojek is Indonesia’s most valuable startup at $10 billion, competing more broadly in Southeast Asia with Singapore’s Grab. Gojek co-founder and Chief Executive Officer Nadiem Makarim stepped down in October to join the Indonesian president’s cabinet, while Andre Soelistyo and Kevin Aluwi took over the company as co-CEOs.

Gojek and Moka held discussions earlier this year before Makarim’s departure, but the two sides only recently were able to reach a fundamental agreement.

Gojek has turned to acquisitions in recent years to expand its businesses and build stronger management. Aldi Haryopratomo became chief executive officer of GoPay, Gojek’s in-app digital payments service, after the company acquired Mapan, an Indonesian group-saving network he had co-founded.

GoPay is accepted as a payment method by more than 420,000 online and offline merchants across 370 cities in Indonesia, 90% of which are micro, small or medium-sized businesses.

Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.