Fresh from its recent $24-million Series B financing, Indonesia-based point-of-sale app operator Moka has acquired Indian contextual marketing company GetFocus for an undisclosed amount, the latter said in a statement.
Through the deal, Moka will look to combine synergies with the Mumbai-based startup to strengthen its technology capabilities and leadership.
Founded in 2014, GetFocus provides an indoor positioning solution for app developers. The company claims its solutions have a total download base of 10 million end-users.
Commenting on the acquisition, Moka CEO Haryanto Tanjo said, “Moka has been growing very rapidly in the past and we have more than 12,000 merchants using our services every day. We realised the need to have a very strong technology and research arm in India and acquiring GetFocus will help us strengthen our technology excellence and leadership and bring the best services for your customers.”
Founded in 2014, Moka provides an end-to-end POS and payment solution that caters to small and medium businesses in Indonesia. The service includes an Android/iOS app used by store cashiers and a web back-office that allows store owners to access data such as sales reports, inventory, and customer feedback in real-time.
Over the last 12 months, the company has also found traction among larger retail and F&B chains. It now serves 12,000 businesses in the food & beverage, retail, and beauty categories, and is close to hitting $1 billion in annual transaction volume.
Last month, the company announced the closing of a $24-million Series B funding round led by Sequoia India and joined by new investors SoftBank Ventures Korea, EDBI and EV Growth as well as existing investors Mandiri Capital, Convergence, and Fenox.
The company said it plans to use the fresh capital to speed up product development as it expands its services beyond SMEs to enterprise clients.