Ride-hailing services Gojek has acquired point-of-sales (POS) solution provider Moka POS. The news came up after Gojek reported the corporate action to the Business Competition Supervisory Commission (KPPU) on April 9. Up to this moment, there have yet to be official statement from both parties.
Rumor on the acquisition have been circulating since last year, which Gojek denied by saying that they were only working to integrate their services and optimize digital payment Gopay. Following that, in December Bloomberg reported that Gojek was finalizing the acquisition of Moka, with valuation of the deal reaching $120 million.
Moka was founded by Haryanto Tanjo and Grady Laksmono in 2014. The company helps SMEs and retailers manage payment and other business operations. By using its cashier system app, merchant can turn any devices into a payment point that can handle orders, issue invoices, and accept payments from various mobile wallets. It helps merchants to produce revenue reports from multiple outlets, manage inventories and other administration, and provides users with business analytics.
In 2018, Moka secured a $24 million series B funding from Sequoia Capital India, Softbank Ventures Korea, EDBI, and EV Growth, as well as existing investors Convergence, Fenox, and Mandiri Capital.