Moka Raises $24M Series B Funding Round To Speed Up Product Development

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Moka is trusted by more than 12.000 paying merchants in the food, beverage and retail services, and is about to reach $1 Billion in annual transaction volume. To learn more about Moka POS, its innovative approach and recent $24 Million Series B funding round, see below our recent interview with Riris Amaliyah from Moka POS:

Riris Amaliyah

Q: What is your differentiator? What can you do that the competition can’t?

A: Moka provides all merchants with end-to-end solutions starting from payment integration, and working capital for merchants. In fact, Moka becomes the first point-of-sale in Indonesia to partner with e-payment provider for merchant to accept all digital payments, and also the first to provide working capital for merchants through collaboration with P2P lenders partner.

Q: What was the vision behind Moka?

A: Haryanto Tanjo and Grady Laksmono see that there are still many businesses that use manual methods in operating their businesses. By utilizing technology, there will be a lot of time saved and can be used to escalate business development and provide innovation in the products and services of the business. Together with experience and passion for technology, Haryanto Tanjo and Grady Laksmono build solutions that can drive the efficiency of businesses in running their business from anywhere and anytime. By establishing Moka, the main vision of both is to develop businesses in Indonesia, from small to larger scale of businesses.

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Q: What was your first big breakthrough?

A: As a leader for point of sale industry in Indonesia, Moka is now trusted by more than 12.000 paying merchants across Indonesia in the food & beverage, retail, services, and is close to hitting $1 billion in annual transaction volume. As the company expanded its offerings over the last 12 months, it has also found traction among larger retail and F&B chains which value Moka’s sleek interface, built-in integration with e-payment platform, and the fact there is minimal capital expenditure required to use the system.

Q: You have recently raised $24M, could you tell us more about it?

A: Moka has raised USD 24 million Series B round led by Sequoia India. The round included new investors SoftBank Ventures Korea, Singapore-based EDBI, EV Growth, as well as existing investors Mandiri Capital, Convergence, and Fenox. With this new capital, Moka will speed up product development and feature for its merchants. With support from Sequoia India and other investors, Moka is committed to serve its merchants better and provide more services that will help all merchants to grow.

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Q: What’s next?

A: Not just digital point-of-sale, Moka becomes a multifunctional platform that provides one-stop solutions to all merchants in an integrated open-platform. Surely, Moka will continue to expand services and provide features that are accessible for everyone not limited to SMEs, but also for larger scale enterprises or companies. Becoming a platform that has a complete ecosystem for merchants, Moka will continue to collaborate with financial technology companies, P2P lenders, banks, or other entities with the same vision to provide technology solutions for business owner.

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