Aditya Hadi Pratama · · 1 min readAC Ventures, BRI Ventures back Indonesian SaaS startup’s $10m round
Indonesian software-as-a-service platform Majoo has raised US$10 million in a series A funding round from AC Ventures, Quona Capital, BRI Ventures, and Xendit.
Majoo’s team (from left) Bayu Indriarko, Adi Wahyu Rahadi, and Audia Rizal Harahap / Photo credit: Majoo
Founded in 2019 by Adi Wahyu Rahadi and Audia Harahap, Majoo offers solutions for SMEs, including an online cashier system, an online shop dashboard, inventory management, and accounting tools.
In a statement, the company said it has onboarded 35,000 users so far, which include food and beverage outlets, barbershops, laundromats, and convenience stores. Since its inception, it has processed more than 166 million transactions worth over US$970 million.
“Majoo’s customer retention of over 80% shows how valuable its software is to the users,” said Adrian Li, managing partner at AC Ventures.
The SaaS platform plans to use the fresh funding to expand customer reach, sign more strategic partnerships, and accelerate market penetration. Earlier this year, Majoo raised US$5 million in a pre-series A round to build an instant online store offering and hire more employees.
See also: These are the most active investors in Indonesia’s startups
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
