Moka Announces Acquisition of "GetFocus", India-based Startup
The acquisition is said to strengthen Moka's engineering line by getting some of GetFocus's finest products
Prayogo Ryza - 3 October 2018
Moka, one of the biggest SaaS (Software as a Services) startup for PoS (Point of Sales) in Indonesia just make a first big step by making an acquisition over an India-based startup, GetFocus. It's said to be a strategic step for Moka to create a strong engineering line.
Since 2016, Moka's development is quite significant. On the journey, they've managed to acquire support from some investors, including Mandiri Capital, Convergence Ventures, East Venture, Fenox, Northstar Group, and the latest are from Sequoia Capital India, Softbank Korea, EDBI, and EV Growth.
Weeks after the latest funding announcement, Moka returns with the new strategic plan by acquiring GetFocus. Haryanto Tanjo, Moka's CEO said that this acquisition is a form of awareness to develop products using the research team and technology in India.
Currently, Moka claims to have more than 12,000 active merchants using the service daily. GetFocus acquisition will be a part of Moka's efforts to improve its service quality by making use of GetFocus' expertise.
"With GetFocus acquisition, Moka will make efforts to keep our technology and leadership on top in providing the best service to all customers," he explained.
Last September, Moka has secured IDR 355 million of funding. Haryanto said in the release that this funding is for product development along with Moka to be the one-stop service to partners.
To date, Moka has partnered with some e-money providers to add more payment methods in Moka platform. Moka has run Moka Capital service. A p2p lending platform to add more options for merchants.
The acquisition becomes Moka's strategic step, it's possible with the new India-based technology and research team, Moka is to launch new services in achieving its goal to be the all-in-one service for partners.
– Original article is in Indonesian, translated by Kristin Siagian