(L-R) majoo co-founder Adi W Rahadi, VP (Engineerng) Bayu Indriarko, and co-founder Audia R Harahap
majoo, a startup providing omnichannel solutions for MSMEs in Indonesia, has received US$4 million in pre-Series A funding led by AC Ventures with participation from BRI Ventures and Xendit.
With the new funding, majoo will continue to add more features to its platform to support MSMEs further to grow their business. It also aspires to expand its team to reach more than 100 cities in Indonesia by the end of 2022.
Also Read: How tech can empower Indonesia’s 63M MSMEs in the post-pandemic era
The SaaS startup was founded in 2019 by Adi W Rahadi and Audia R Harahap. Rahadi was previously head of T-Cash (now LinkAja), while Harahap ran multiple MSMEs.
Started off as a point of sales solution for MSMEs, majoo is now expanding its offerings to be an end-to-end SaaS for them to sell through multiple offline and online channels with a single dashboard.
The company claims its app has grown 85 per cent y-o-y to acquire over 20,000 active merchants. It has processed over 80 million transactions worth US$600 million for MSMEs in more than 600 cities in the archipelago across a diverse range of businesses, from F&B to laundromats and convenience stores.
In July, the startup closed a pre-Series A funding round.
MSMEs form the backbone of Indonesia’s economy, with more than 60 million registered enterprises contributing to more than 67 per cent of the GDP and employing 90 per cent of the adult workforce in the country.
Also Read: Everybody is helping MSMEs go digital today, but Indonesia-based Titipku aims to do it differently
“MSMEs are very dependent on offline sales activities. Looking at the pandemic situation, we developed e-commerce features in a mission to support MSME to pull through this challenging time. We provide them with a tool to create their own website, online payments, and integration with Grabfood, Tokopedia, Shopee, and other e-commerce services,” said Adi W. Rahadi, co-founder and CEO of majoo.
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Image Credit: majoo
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