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Gojek is climbing stairs of success after raising various funds and acquisitions. In this blog read about latest updates from Gojek and other multi service providing companies.
This is the time to jump into the industry with our Gojek clone(multi-service app development) solution to taste the fruits of success.
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Recent advancements of Gojek depicting a huge scope in the multi-service app development
Moka is going to join a very much larger organization. Numerous sources with information on the deal have indicated that Indonesia’s most marketable tech company, Gojek, is acquiring Moka.
Moka POS manufactures mobile point-of-sale (POS) technology for small and medium enterprises in Indonesia. The Moka payment terminals in many boutiques and restaurants can be found around the country.
Moka was founded in the year 2014 as a startup and it is one of the early birds in Indonesia’s fintech market. The company has raised nearly 40 million USD so far from investors. The investors include the productive early-stage investor East Ventures and “unicorn maker” Sequoia Capital.
Moka is indeed partnering with Gojek’s wallet Go-Pay in its payment ecosystem. This also means that Moka’s partners can accept Go-Pay as a form of cashless payment. The company has been an independent platform and also accepts digital payments from many other companies. There are some companies that are rivals of Go-Pay including Ovo (the wallet used by Grab), as well as other mobile wallets like Dana and LinkAja. Moka POS also accepts the credit card-like cashless payments endeavored by Kredivo and Akulaku.
Gojek's acquisition of Moka would fit the model of how Gojek has carved out its payments abilities in the past. In 2016 it took over MVCommerce, a vital move during which it received the e-money license that established the base for its Go-Pay wallet. In 2017, it took over Midtrans, Kartuku, and Mapan. These are the three well-established payment businesses in Indonesia that each provides a distinct segment.
Moka has close ties with the offline SME merchants which is another piece in the question. Helping improve the use of Go-Pay for buying made offline is just one of the upsides it draws. Moka’s CTO Grady Laksmono in a recent interview declared that the company has 18,000 merchants in 200 cities in Indonesia. And the company has a widespread network. The organization has also evolved past its original function as a mobile POS. The company now also consists of a client relationship management program, human resources management software, and a way to channel loans to merchant partners.
A merger is also possible for some other reasons. Gojek is one of the few local apps that has accomplished the bulk scale. Joining with Gojek could get Moka the advantage of having admittance to tens of millions of users and a comprehensive merchant network that it may not have had exposure to before. Gojek will want to strengthen its position in Indonesia and secure in as many partners as possible. As the biggest rival of Gojek, Grab, later said it would keep on investing and expanding in Indonesia with conceivably billions of dollars in investments.
Finally, getting acquired by a giant corporation is one-way startups can deliver profits to their shareholders. Several startups accord investor DNA. Moka and Gojek, for example, are both parts of Sequoia India’s portfolio. In an evolving market such as Indonesia, where exit breaks through big IPOs could still be years apart, ‘exit to unicorn’ has grown to be a favorite result.
Leave alone the payments companies, Gojek has obtained a merger with several startups. The recent case of such acquisitions being the ticketing platform Loket. These mergers are basically carried out to strengthen its position in multiple verticals.
Indonesia’s most extensive point-of-sale (PoS) provider Moka had acquired an innovative Mumbai-based retail-tech startup GetFocus in the year 2018. With this takeover, Moka wanted to look into combining synergies with the Mumbai-based startup to establish its technology aptitudes and leadership.
It was an interesting fact that Moka’s India Technology Centre was being set up in Bengaluru by Chaturvedi. And apart from Moka, Go-Jek also has its engineering facility in Bengaluru. Go-Jek is planning to launch its bike-taxi service in India in the coming future.
Moka, on another hand, has raised $24M amount from Sequoia Capital India in mid of last month. The total amount raised so far by Moka is a total of $28M in funding over five rounds from investors which include Softbank Ventures Korea, EDBI, a Singapore-based global fund, and Jakarta-based Mandiri Capital Indonesia, a corporate venture firm, among others.
Reflecting on the acquisition, Moka CEO Haryanto Tanjo had declared that Moka has been evolving very fast in the past. He also said about having more than 12,000 merchants who use their services every day. They have understood the need to have very powerful technology and investigation arm in India and taking over GetFocus has definitely helped them to strengthen the technical superiority and influence and deliver the best services for their customers.
Gojek revamps logo, shares insights to a new look and creative challenges
Gojek has revealed a new visual personality, exchanging the Ojek (bike taxis in Bahasa Indonesia) logomark for “Solv”, a nearly-rounded ring enclosing a dot. The rebrand attempts to indicate the company’s growth “from a Jakarta-based ride-hailing service to Southeast Asia’s leading Super App”. Source
Visa and Gojek merger for Financial Inclusion in Southeast Asia
Visa, the world’s commanding digital payments technology business has funded Gojek which is now called Southeast Asia’s leading mobile on-demand service and payments platform. This investment came as part of the latter’s ongoing Series F fundraising round. The two organizations will work collectively to present greater choices on cashless payments. They also want to enable more seamless experiences for customers across Indonesia and Southeast Asia.
Gojek secures investment from SCB in Thailand
Gojek announced an investment from a leading Thai bank, SCB. This is the second investment coming to Gojek as part of its ongoing Series F funding round. According to their agreement, SCB will partner with Gojek’s local branch, GET, to facilitate seamless payment practices and build a more lively ecosystem for the GET users, drivers, merchants, and partners in Thailand.
After reading about these recent achievements of Gojek, you can make out the huge scope of this multi-service development app niche. And why you should develop an app like Gojek. To read more about it you can check out our Gojek Clone app development blog.
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