Moka Receives Seed Funding from East Ventures for Single-Click Payment Service
Mokapos (Moka) product and services have apparently attracted East Ventures to put its feet on the company. This is reflected just couple of days ago (22/9), as Moka announced that it has successfully closed an undisclosed seed funding from East Ventures. The funding would allow Moka to continue developing its product, which is now only available in beta version.
Moka was established by duo Grady Laksmono and Haryanto Tanjo. Both have a noble dream to let users completing their transactions in one simple step. To achieve such a dream, they integrated POS system to their services.
“We want to give our users the best experience by providing the end-to-end POS solution. This is based on the fact that currently, POS and EDC are not related between each other, meaning that users need to go to the EDC before proceeding to POS. Thus, why not integrating these two separated systems into one?” Haryanto stated. The integration itself would allow business owners to accept transaction through any type of credit cards, as long as their devices are connected to the Internet.
Willson Cuaca, the Managing Director of East Ventures, stated that it is the potential of Indonesia’s retail industry growth that has attracted East Venture to invest. According to him, the data of July 2014 indicated that the local retail industry has reached 18.6 percent of growth since the same month last year. The fact has named Indonesia as the most growing market in the region, followed by Vietnam (11,9 percent) at the second place and Singapore (5,5 percent) at the third place.
“Retailers have to operate their services efficiently and access real-time information. Grady and Haryanto have just the skills and attitude to execute their ideas. This has attracted East Ventures to help them making their dream comes true,” Willson Cuaca stated.
While the traditional POS system is regarded as quite expensive and not accessible for nearly most of the people, Moka wants to make the system available to pretty much anyone who could access it via his own iPad.
“Business owners don’t have to do further observation on POS providers, spend much, or go through series of boring training. They only have to download Moka on their own iPad, sign in, and start selling,” Haryanto added.
Moka’s monthly subscription tariff would be dependant to the total number of goods. Another Moka’s good point is that it would save users’ transaction at cloud. This way, users may check their transaction record everytime, everywhere. “The could system allows users to have a number of shops at once, provide information about most popular goods, and let consumers know about sold-out items,” Grady concluded.
[Header illustration: Shutterstock]