Majoo, a Jakarta, Indonesia-based integrated software as a service (SaaS) solution for Indonesian MSMEs, announced that it raised a $10 million Series A funding round led by an undisclosed global technology investor.
The round was joined by existing investors AC Ventures, Quona Capital, BRI Ventures, and Xendit.
The company will use the fresh capital to expand its customer reach, initiate more strategic partnerships, and accelerate market penetration overall.
This funding round from strong, global, and prominent investors makes majoo even more excited to embark on the company’s new phase. The funds will be used to continue our long-term mission and to help Indonesia’s MSMEs evolve. It will help expand our technology development roadmap and form foundational, strategic partnerships that will further scale our business,”- Majoo Founder and Chief Executive Officer Adi Wahyu Rahadi
Company: PT Majoo Teknologi Indonesia
Raised: $10.0M
Round: Series A
Funding Month: Aug 2022
Lead Investors: Undisclosed
Additional Investors: AC Ventures, Quona Capital, BRI Ventures, and Xendit
Company Website: https://majoo.id/
Software Category: integrated SaaS business solution
About the Company: Founded in 2019, Majoo is an integrated software as a service (SaaS) solution for Indonesian MSMEs. Its SaaS suite helps small enterprises of all shapes and sizes succeed with offerings like an online cashier system, inventory management, accounting tools, and an all-in-one management dashboard for selling online across various e-marketplaces. Majoo provides a comprehensive solution for managing businesses, consisting of an integrated Online POS, Accounting, Inventory Management, Employee Management, CRM, Business Analysis, Online Order, and Owner App. The company has acquired more than 35,000 Indonesian MSMEs and has processed more than 166 million transactions worth $970 million in more than 600 cities. Its customer base spans various industries, ranging from food and beverage outlets to barbershops, laundromats, convenience stores, and more. Majoo is headquartered in Jakarta, with tech offices in Malang, supporting teams in 60 cities, and sales representatives in more than 100 cities across Indonesia.
Source: https://technode.global/2022/08/15/indonesian-msme-enabler-majoo-raises-10m-series-a-funding/