Moka has dismissed the reports saying it is just a rumour. “We do not comment on market speculation,” a spokesperson told KrASIA.
Moka, however, has pointed out that it is partnering with Go-Jek’s wallet Go-Pay in its payment ecosystem. This means Moka’s partners can accept Go-Pay as a form of cashless payment.
For Moka, a merger with Go-Jek will make good business sense as this will allow access to tens of millions of users and a large merchant network. Currently, Moka is doing business with 18,000 merchants in 200 cities in Indonesia.
Founded in 2014 by Haryanto Tanjo and Grady Laksmono, Moka provides businesses of every size with tools to run and grow their business. At the storefront, Moka provides a point-of-sale application and an integrated digital payment solution.
On the back-end, Moka creates sales and gross profit reports across multiple outlets, tracks inventory, receives feedback from customers, and provides analytics like what item are selling best, what items are running out, and when are the stores’ busiest hours.
In September last year, Moka raised US$24 million Series B round led by Sequoia India, with participation from SoftBank Ventures Korea, Singapore-based EDBI, EV Growth, as well as existing investors Mandiri Capital, Convergence, and Fenox.