Roehl Niño Bautista · · 1 min readIndonesian SaaS firm nets $5m more in pre-series A round
Indonesia-based Majoo, an integrated software-as-a-service platform, has raised an additional US$5 million in its pre-series A round, bringing the total funding from the round to US$9 million.
AC Ventures and Quona Capital led the round, while BRI Ventures and Xendit also participated in it.
Last October, Majoo had raised US$4 million in the same round, which AC Ventures had led.
(From left) Majoo’s CEO Adi Rahadi, vice president of engineering Bayu Indriarko, and chief operating officer Audia Harahap / Photo credit: Majoo
Founded in 2019 by Adi Rahadi and Audia Harahap, Majoo offers business solutions to merchants through its app. It said that its platform has more than 25,000 active users and has processed US$600 million in transactions for MSMEs.
The latest funds will go toward integrating its offering with marketplaces and developing an instant online store. It will also ramp up talent acquisition for its growth, product, and engineering teams as it aims to penetrate more of the market.
in Indonesia, 19% or 12 million MSMEs are already in the digital ecosystem. The country’s government aims to digitalize 30 million MSMEs by 2023.
See also: These are the most active investors in Indonesia’s startups
Editing by Collin Furtado and Arpit Nayak
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