majoo Confirms It Has Completed Pre-Series A Funding Worth 130 Billion Rupiah

After opening funding pre-series A worth $4 million at the end of 2021, majoo has now completed the round and managed to raise funds worth $9 million or approximately 130 billion Rupiah. New investors joining this round are Quona Capital and Xendit. BRI Ventures also injected more funds into majoo.

To DailySocial.id, Co-Founder & CEO of majoo Adi W. Rahadi confirmed the funding. Funding for this advanced stage has become a plan from majoo which has been presented in the previous interview.

majoo was founded by three founder, including Adi W. Rahadi (CEO), Audia R. Harahap (COO), and Bayu Indriarko (VP Engineering). Previously, the three founders were retail business players who also served SME customers, so they quite understood the various difficulties encountered in the field.

Platforms that offer services similar to majoo include Moka, which is currently part of the merchant ecosystem in the GoTo Group, Qasir, which has started targeting the regional market, Pawoon with 25 thousand active merchants, Youtap, which wraps its services with a loyalty program, and many more. .

Targeting MSMEs

The business solution from majoo is an application with a monthly subscription fee or SaaS. majoo currently has paid users more than 15 thousand entrepreneurs spread over 600 cities in Indonesia with various types of businesses. Starting from F&B, retail, services, and other types of entrepreneurs.

Since its establishment in 2019, majoo claims to have processed more than 80 million transactions worth $600 million or more than 8,4 trillion Rupiah for MSMEs in more than 600 cities/districts in Indonesia from various types of businesses, from F&B to laundry.

The majoo service starts from a point of sale (POS) aka cashier application. Currently, it continues to be expanded to include employee management, inventory, CRM applications, to online ordering. Statistically, majoo claims to have grown by 85% YoY and has acquired more than 20K active users with a good retention rate.