Indonesian SaaS startup Majoo raises $10 million to improve enabling MSMEs

Oluwajuwonlo Afolabi -

Majoo, an Indonesia-based software-as-a-service (SaaS) startup that is enabling micro small and medium enterprises (MSMEs) has raised $10 million in its Series A funding round, to improve its operations.

  • The fund will be used to expand its customer base, secure strategic partnerships, and improve its market penetration.
  • Founded in 2019, Majoo is a SaaS solution for MSMEs, with a record of 35,000 registered Indonesian MSMEs and $970 million in processed transactions.
  • Its product stack offerings include cashier systems, inventory management, accounting tools, and centralized management dashboards compatible with online selling in different e-marketplaces.
  • AC Ventures, Quona Capital, BRI Ventures, and Xendit, existing investors participated in the round.