Monday, June 24

Gojek Acquires Moka for $130 Million

As per the Bloomberg report, Ride-hailing startup Gojek has acquired a payment startup Moka for $130 million.

The deal was under negotiations since last year and completed about a month ago.

The report also said, Indonesia based Ride-hailing and food delivery startup recently raises $1.2 billion funding to cement its position in digital payments space to acquire the users who are shifting away from cash and using digital services in this virus lockdown.

The Moka payment app has more than 35,000 merchants and present in more than 100 cities across Indonesia.

Moka accepts debit, credit cards and mobile wallets. It also has an analytics platform to track sales and inventory, run loyalty programs, and manage employees.

A Gojek representative declined to comment, while a Moka official wasn’t immediately reachable.

Gojek now values at $10 billion after recent fund raising round.

“Regardless whether it’s good times or bad times, you have to build a really solid foundation of the business,” Aldi Haryopratomo, CEO of Gojek’s e-payment unit GoPay, said in a Bloomberg TV interview this month. “We are very lucky to have secured the funding as a group and we are in a position to execute it.”

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