Indonesian start-up Moka raises US$24m in funding

Moka, an Indonesian start-up focusing on cloud-based point of sale (POS) system, has raised US$24 million in series B funding, which will allow it to accelerate product development of its POS system.Its POS system will also allow business owners to create their own loyalty programmes, obtain analytics on best-selling items and most valuable customers, as well as manage inventory across multiple outlets. Among its list of clients include Aldo Brue and Chief Barbershop.The latest round of funding was led by Sequoia India and included SoftBank Ventures Korea, EDBI, EV Growth and Fenox, among others. Marketing Interactive has reached out to Moka for comment.In June this year, the company launched Moka Capital to extend business loans to merchants through its app. Modalku, Taralite and Koinworks came on board as its peer to peer lending partners. In April, it tied up with OVO, a mobile payment solution by Indonesian conglomerate Lippo Group, to integrate it into Moka's POS system as a payment option.(Photo courtesy: 123RF)