Indonesia: Moka gets $2m from in Mandiri Capital-led round

By Antonia Timmerman

February 14, 2017

Point-of-sale app operator Moka has just received $2 million in a funding round led by Mandiri Capital, with participation from Convergence Ventures, East Ventures, Fenox VC, and Northstar Group, according to an announcement today.

The investment followed a $1.9 million, East Ventures-led series A round obtained by Moka in June last year. Other investors who participated in the round were Convergence Ventures, Fenox VC, Northstar Group and Wavemaker Partners.

Moka has said it plans to use the fresh funds to speed up product development, as well as to attract “the best talents”.

The Jakarta-based startup 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.

Eddi Danusaputro, CEO of Mandiri Capital said, that Moka solves the problem of tracking sales often faced by small business owners.

“One of the difficulties that we see in SME’s is to track sales and many business owners are still doing it manually. We think that Moka is the right partner and the best startup available to provide such ability to SME,” Danusaputro said.

Also commenting on the investment, CEO and co-founder Haryanto Tanjo, said: “We believe that Bank Mandiri’s vast network of SME merchants will benefit from our Point of Sales (POS) and payment solution. We look forward to working with Mandiri Capital to empower local businesses in Indonesia.”

The company has seen rapid growth in 2016 with over 2,500 monthly paying merchants to date, and it plans to grow even more aggressively this year.

Also Read:

Indonesia: Moka secures $1.9m series A funding from East Ventures

Indonesian startup Moka ties up with Bank Mandiri to launch mobile payment solution

Indonesia: East Ventures closes fifth fund, raises $27.5m

Convergence Ventures closes $30m Indonesia-focussed VC fund

East Ventures makes seed investment in Jakarta-based creative agency Flock

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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.
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