Majoo, a Jakarta, Indonesia-based integrated software as a service (SaaS) business solution platform in Indonesia, announced that it raised $5 million more in pre-Series A funding.
The round was led by AC Ventures and Quona Capital, with participation from BRI Ventures and Xendit, bringing the total raised for the latest round to $9 million.
Majoo will use the new fund to accelerate its product development including instant online store, and marketplace integration, enhance market penetration and hire in multiple positions to support its growth, product, and engineering team.
Round: pre-Series A
Funding Month: February 2022
Lead Investors: AC Ventures and Quona Capital
Additional Investors: BRI Ventures and Xendit
Company Website: https://majoo.id/
Software Category: SaaS Business solution platform
About the Company: majoo is the fastest growing SaaS company providing a super app business solution platform for 60 million Indonesian SMEs to grow their business, with more than 300 employees serving customers over 600 cities nation-wide, 24 hours online SME support with dedicated sales support in more than 60 major cities. Majoo is an integrated SaaS business solution platform for Indonesian MSMEs that provides a complete solution for MSME businesses. Comprehensive solution of an integrated Online POS, Accounting, Inventory Management, Employee Management, CRM, Business Analysis, Online Order, and Owner App. Since its launch, Majoo Indonesia has acquired over 25,000 active merchants with best-in-market 12-month retention and with 250 percent growth during this pandemic, demonstrating its products’ quality and market fit. It is headquartered in Jakarta, with tech offices in Malang, supporting teams in 60 cities, and sales representatives in more than 100 cities across Indonesia.