Majoo Bags US$10 Mln Funding from Local and Global Investors

Summary

Entrepreneurial application Majoo announced the first round of Series A funding totaling US$10 million, equivalent to Rp 149 billion. This Series A funding round was led by an anonymous London-focused equity investor focusing on fintech, followed by the participation of other investors such as BRI Ventures, AC Ventures, Quona Capital, and Xendit.

"With this funding, Majoo will continue to expand its market in Indonesia by offering comprehensive solutions for MSMEs in running their business operations and helping grow their businesses," Majoo Indonesia founder & CEO Adi Wahyu Rahadi said in a press release on Monday.

Adi added that this funding marks a new growth phase for the company, with support from top investors through a global portfolio, such as BRI Ventures, AC Ventures, Quona Capital, and Xendit. The investors not only provide funding for Majoo to continue the company's mission in the future but also provide strategic direction and support for Majoo's business to maximize and strengthen Majoo's position in the software as a service (SaaS) industry.

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