A point-of-sales (POS) provider Moka which is based in Jakarta has reportedly acquired a Mumbai-based contextual marketing company known as GetFocus. However, the amount of deal has not been disclosed yet.
Following this acquisition, both these companies are looking forward to combining their synergies and interaction for the purpose of strengthening their technology capabilities and leadership.
“Moka’s vision and mission truly inspired us at GetFocus. We have long seen how technology is disrupting traditional retail and providing a much better experience to the end user along the way. We are glad to partner with Moka in their journey and solve for some of the largest problems faced by the 65 Mn merchants in Indonesia every day,” Prateek Chaturvedi, CEO of GetFocus said.
Along with this, Moka has also raised an amount of $24 million in a Series B funding round led by Sequoia Capital India. This amount has been basically raised to take the company’s POS system to large enterprise clients.
Founded in 2014 by Haryanto Tanjo and Grady Laksmono, the company basically provides end-to-end POS and payment solutions that empower small and medium businesses in Indonesia to increase their sales.
On the other hand, GetFocus was established by Prateek Chaturvedi and Manoj Gudi with an aim to provide a comprehensive Indoor Positioning Solution for app developers. The company claims to have a client base of companies like BookMyShow, HDFC Bank, among others.
Along with this, the company also claims to have a total download base of 10 million end consumers who are using its services. Moka’s India Technology Centre is being planned to set up in Bengaluru by Chaturvedi and aims to double its workforce by December. The growth potential of point of sales (POS) and mobile point of sale (mPOS) companies in India is huge and is growing day by day.