(L-R) LUNA Co-Founders Irianto Siah and Abdullah Lewis
LUNA, an Indonesian embedded fintech and vertical SaaS platform for retailers and MSMEs in Indonesia, has raised an undisclosed round of financing led by TNB Aura through its TNBA Scout initiative.
Seedstars and existing investors 1982 Ventures, Century Oak Capital, and Prasetia Dwidharma also participated.
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With this financing, the startup plans to recruit talent across all functions, expand to new cities in the archipelago, and invest in platform development.
Launched in late 2019 by Abdullah Lewis (CEO), Patricco Baron (CTO), and Irianto Siah (COO), LUNA is an Operating System for merchants to improve their operations, payments, accounting, access to financing, supply chain, digital marketing, customer relationship, loyalty programmes, HR, legal and compliance.
“Retail merchants face an incredibly complex and competitive market. Many have not digitised or are using outdated legacy systems not built for Indonesian retailers or MSMEs. We are the all-in-one system for retail owners to scale their business and provide enhanced customer experiences,” CEO Lewis said.
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Its solutions include a mobile point-of-sale system with a built-in enterprise resource planning (ERP)/accounting system (Luna POS); QRIS, debit, and credit card payment enablement (Luna One); financing support for MSMEs (Luna Capital); online web (TokoLuna); and digital supply chain solutions (Luna Mart); legal support, company registration, and patenting (Luna Legal); helping MSMEs to manage social media and advertising (Luna Ads); as well as HR management, loyalty programs, and customer relationship management offerings.
According to the company, it covers over 70 cities in Indonesia and is growing over 20 per cent m-o-m, with over 7,000 active merchants onboarded.
LUNA has partnered with major banks such as Bank Jawa Barat, CIMB Niaga, Bank Neo Commerce and Nobu Bank; P2P lenders Koinworks and Batumbu, and wireless network operator Smartfren. The company is rolling out an HR management system and additional value-added services to meet the needs of MSMEs as a comprehensive solution.
“With 90 per cent of all MSMEs in ASEAN based in Indonesia, we believe there is still a large, untapped market presently facing a lack of access to new technology and capital. We believe LUNA’s unique access to MSMEs through its rural bank partnerships along with their POS system software serve as prime data collection points which will enable business owners access to their full suite of product offerings,” said Glen Ramersan, Managing Partner & Head of Indonesia, TNB Aura.
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Image Credit: LUNA.
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