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Jakarta Post

Foreign firms agree to invest $24m in fintech startup

  • The Jakarta Post

Jakarta   /   Thu, September 13 2018   /  03:02 am

Homegrown point-of-sale (POS) system provider Moka has secured US$24 million in investments from foreign investors to finance its growing business activities in digital financial services.Moka CEO and co-founder Haryanto Tanjo said in Jakarta on Wednesday that the new investment reflected growing trust from foreign and domestic investors in the company’s businesses.Haryanto said the new investment would be used to accelerate product development, including digital payment integration. The company also planned to diversify beyond its POS system as it aimed to develop a new business division that was launched earlier this year called Moka Capital, he added.The investment is the second of a series of funds received by Moka, which is engaged in digital payments and peer-to-peer lending in addition to providing the POS system. The new investment, dubbed Series B financing, is provided by new...