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Ex-LinkAja executive’s omnichannel solutions startup majoo lands US$4M pre-Series A

Published on November 26, 2021

Photo Credits: Majoo

Original post by e27

majoo has processed 80M+ transactions worth US$600M for MSMEs in more than 600 cities in Indonesia across F&B, laundromats and convenience stores.

majoo, a startup providing omnichannel solutions for MSMEs in Indonesia, has received US$4 million in pre-Series A funding led by AC Ventures with participation from BRI Ventures and Xendit.

With the new funding, majoo will continue to add more features to its platform to support MSMEs further to grow their business. It also aspires to expand its team to reach more than 100 cities in Indonesia by the end of 2022.

The SaaS startup was founded in 2019 by Adi W Rahadi and Audia R Harahap. Rahadi was previously head of T-Cash (now LinkAja), while Harahap ran multiple MSMEs.

Started off as a point of sales solution for MSMEs, majoo is now expanding its offerings to be an end-to-end SaaS for them to sell through multiple offline and online channels with a single dashboard.

The company claims its app has grown 85 per cent y-o-y to acquire over 20,000 active merchants. It has processed over 80 million transactions worth US$600 million for MSMEs in more than 600 cities in the archipelago across a diverse range of businesses, from F&B to laundromats and convenience stores.

In July, the startup closed a pre-Series A funding round.

MSMEs form the backbone of Indonesia’s economy, with more than 60 million registered enterprises contributing to more than 67 per cent of the GDP and employing 90 per cent of the adult workforce in the country.

“MSMEs are very dependent on offline sales activities. Looking at the pandemic situation, we developed e-commerce features in a mission to support MSME to pull through this challenging time. We provide them with a tool to create their own website, online payments, and integration with Grabfood, Tokopedia, Shopee, and other e-commerce services,” said Adi W. Rahadi, co-founder and CEO of majoo.

AC Ventures (ACV) is a top Southeast Asian venture capital firm that invests in early-stage startups focused on Indonesia and ASEAN, with over US$500 million in assets under management. The firm's mission is to empower entrepreneurs with more than just capital by combining operational experience, industry knowledge, deep local networks, and resources. ACV's team has invested in over 120 tech companies in the region since 2012. With a team of more than 35 professionals led by Adrian Li, Michael Soerijadji, Helen Wong, and Pandu Sjahrir, it has offices in Jakarta and Singapore.

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