<article>Indonesia-based expense and business management platform <a href="https://www.dealstreetasia.com/tag/Jojonomic">Jojonomic</a> has raised an undisclosed amount of fresh capital in a round led by European fintech VC <a href="http://dealstreetasia.com/tag/finch-capital">Finch Capital</a>.</article>

Indonesia-based expense and business management platform <a href="https://www.dealstreetasia.com/tag/Jojonomic">Jojonomic</a> has raised an undisclosed amount of fresh capital in a round led by European fintech VC <a href="http://dealstreetasia.com/tag/finch-capital">Finch Capital</a>.
Other investors participating in the round are existing investors East Ventures and Golden Gate Ventures, as stated in an official announcement. With this round, Jojonomic expands its shareholder base which now covers Europe, the US, Japan, Indonesia and Southeast Asia.
Launched in 2015, Jojonomic uses cloud-based technology to provide SMEs and enterprise clients with expense management (JojoExpense), time and productivity management (JojoTimes), procurement management (JojoProcure), and cashless cash management (JojoCashCard) solutions – all available in a single Saas platform (JojonomicPro)
Jojonomic’s system is integrated with Indonesia’s five largest banks to enable direct account payment and reimbursement, providing end-to-end expense and cash management solutions.
The company last raised a funding round in 2016 when it secured $1.5 million in an investment round led by Maloekoe Ventures and joined by Golden Gate Ventures, Fenox VC, and East Ventures.
Jojonomic says it currently has tens of thousands of active users and support corporations and SMEs across sectors, from the region&#8217;s tech unicorns to Indonesia&#8217;s largest oil and gas state-owned enterprise.
The funds raised will be invested in completing Jojonomic’s portfolio of business solutions, integrating external data, expanding its customer base across Indonesia and beyond, and developing further Jojonomic’s use of machine learning.
Lead investor Finch Capital says it will be bringing its financial technology expertise and international network to support Jojonomic’s product and business development.
&#8220;Indonesia’s seven hundred thousand small and medium businesses and enterprises often face difficulties managing manual and offline expense and business processes. These inefficiencies result in wasted time, difficulties planning and inability to access payments and financing,” said Finch Capital partner Hans De Back, who will join the Jojonomic Board.
“Jojonomic addresses these issues by providing a seamless expense and business management platform to managers and employees ; this business model has successfully been executed by US and European peers.”
Jakarta-based Jojonomic becomes the latest addition to Finch Capital’s list of Indonesian portfolios, which includes gift card and loyalty startup TADA and mobile bill payment company Ayopop.
Last year, Finch sold its minority stake in Indonesian fintech firm Cermati to local conglomerate Djarum Group, in an exit that earned the European VC a return on capital of 2.7x.
Finch Capital, which focuses on early stage start-ups in financial technology and deep tech, is now investing its second fund with a geographic focus on Europe and South East Asia.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/indonesia-jojonomic-raises-1-5m-from-maloekoe-ventures-others-53628/">Indonesia: Jojonomic raises $1.5m from Maloekoe Ventures, others</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/indonesias-djarum-group-buys-finch-capital-stake-in-fintech-startup-cermati-106150/">Indonesia’s Djarum Group buys Finch Capital stake in fintech startup Cermati</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/indonesias-tada-finch-capital-99298/">Indonesia’s TADA secures Series B funding from Finch Capital</a>

Indonesia-based expense and business management platform Jojonomic raised undisclosed amount of fresh capital in a round led by European fintech VC Finch Capital.


Indonesian fintech startup Jojonomic snags new funding led by Finch Capital

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Indonesian fintech startup Jojonomic snags new funding led by Finch Capital

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