Indonesia’s Moka, a startup that helps SMEs and retailers manage payment and other business operations, has pulled in a $24 million Series B round for growth.
The investment is led by Sequoia India and Southeast Asia — which recently announced a new $695 million fund — with participation from new backers SoftBank Ventures Korea, EDBI — the corporate investment arm of Singapore’s Economic Development Board — and EV Growth, the later stage fund from Moka seed investor East Ventures. Existing investors Mandiri Capital, Convergence and Fenox also put into the round.
The deal takes Moka to $27.9 million raised to date, according to data from Crunchbase.
Moka was started four years ago primarily as a point-of-sale (POS) terminal with some basic business functionality….