August 15

Indonesian MSME Enabler Majoo Raises $10 Million Series a Funding

Indonesia-based micro, small and medium enterprises (MSME) enabler majoo announced on Monday that it raised a $10 million series A funding round led by an undisclosed global technology investor.

The deal was joined by existing investors AC Ventures, Quona Capital, BRI Ventures, and Xendit, majoo said in a statement.

According to the statement, the company will use the fresh capital to expand its customer reach, initiate more strategic partnerships, and accelerate market penetration overall.

“Digitalization plays a major role in transforming MSMEs. To date, Indonesian MSMEs have benefited from new tech that enables them to gain access to a national audience, reduce operational costs, and optimize transaction processes. Majoo will act as a driving force for digitization and continue empowering and growing MSMEs with our end-to-end solution,” said ​majoo Founder and Chief Executive Officer Adi Wahyu Rahadi.

Photo courtesy of Seika.

Source: TechNode Global (link opens in a new window)