Gojek in talks to acquire mobile POS startup Moka for over $100m, says source

Indonesian unicorn Gojek is currently in talks to acquire local mobile point-of-sale startup Moka, an anonymous source close to Moka told Tech in Asia. 

The deal is also expected to be worth over US$100 million, according to the source.

The Moka team / Photo credit: Moka

Moka, however, has already insisted that the development is only a rumor. “It is a rumor and we do not comment on market speculation,” the company told DealStreetAsia. Moka added that it is partnering with GoPay to “complete our payment ecosystem and provide more cashless payment options to our merchants.”

Gojek told KrAsia that it does not “comment on rumors and speculation.”

Founded in 2014, Moka replaces traditional cash registers with a cloud-based POS system that runs on iOS and Android devices. It also offers storefront software for cash registers that can order stock, issue invoices, and accept payments from mobile wallets.

It has partnered GrabPay affiliate Ovo, Akulaku, Dana, T-Cash, and virtual credit card provider Kredivo for integration as payment options on its platform.

In 2016, Moka raised US$1.9 million in a series A round led by East Ventures, with participation from Convergence Ventures, Fenox VC, Northstar Group, and Wavemaker Partners. Most recently, the startup received US$24 million in a series B round that saw participation from new backers Sequoia India, Softbank Ventures Korea, and Singapore’s EDBI.

Last month, Gojek rolled out a rebrand as it seeks to shift from a Jakarta-based ride-hailing service to an integrated system of on-demand services. It said that its next phase of growth will be centered around further innovation of its integrated ecosystem.

The company also said it will work with payments company Visa to innovate payment solutions for digital-first consumers and Southeast Asia’s unbanked and underserved population.