Indonesian mobile point-of-sale (mPOS) developer Cashlez is in talks with potential investors to raise a fresh funding round of around $5 million, DEALSTREETASIA has learned from sources familiar with the development.
The startup’s existing backers include Mandiri Capital Indonesia, the venture capital arm of state-owned Bank Mandiri, which led a $2-million funding round for the firm last year. That round was joined by Gan Kapital. Cashlez had then said it will use the funds for expansion, marketing, and general operational activities.
