Following US$24M Series B round, Indonesia’s MOKA acquires India’s GetFocus | Digital Asia
Digital Asia News Update
Indonesian mobile point-of-sale (POS) service provider MOKA has acquired Indian retail intelligence company GetFocus for an undisclosed amount.
In a press statement, MOKA explained its plan to set up a technology centre in India. Located in Bangalore, the centre aims to double its workforce by December.
“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,” said MOKA CEO Haryanto Tanjo.
Also Read: Less than one year after Series A, Indonesia’s MOKA gets another US$2M to speed up product development
In September 13, MOKA announced that it has raised a US$24 million Series B funding round led by Sequoia Capital India, with participation of SoftBank Korea, EDBI, EV Growth, Mandiri Capital, Convergence Ventures, and Fenox VC.
Starting off as a cloud-based POS service for small businesses, MOKA’s services now also includes a small business financing programme, the result of collaboration with peer-to-peer (P2P) lending startups KoinWorks, Taralite, and Modalku.
The Jakarta-based startup claimed to have more than 12,000 clients in the F&B, service, and retail sector. It has also processed more than 100 million transactions with more than US$1 million in transaction volume in a year.
As for GetFocus, the startup named companies such as BookMyShow and HDFC Bank as clients, with their services being used by a total download base of 10 million end consumers.
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