gojek is said to have finalised acquisition of Moka for US$120M

Bloomberg reported that Indonesian ride-hailing unicorn gojek is currently in the final stage of acquiring point-of-sale (POS) solutions provider Moka for US$120 million. Once the deal is finalised, Moka will be the second POS SaaS platform that gojek has acquired after Nadipos, which it had bought by the end of last year. Together with Kartuku, Nadipos has rebranded itself to Spots.

Both gojek and Moka declined to comment on the acquisition. This year, gojek has reached US$10 billion in valuation and is now the first decacorn startup from Indonesia. It aims to further strengthen its position by expanding to Southeast Asia. Moka itself has raised a total of US$27.9 million from five funding rounds.

Rumour of Moka acquisition has begun circulating since earlier this year. Moka, one of the market leaders in the segment, will propel gojek’s position in the SME sector through GoBiz, one of the three main pillars of the company. Founded by Haryanto Tanjo and Grady Laksmono in 2014, in addition to cashier logging system, the startup’s services also include payments, financing, and integration with financial record platform.