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LUNA, an Indonesian embedded fintech and vertical SaaS platform for retailers and MSMEs in Indonesia, has raised an undisclosed spherical of financing led by TNB Aura by means of its TNBA Scout initiative.
Seedstars and current buyers 1982 Ventures, Century Oak Capital, and Prasetia Dwidharma additionally participated.
Additionally Learn: Fintech funding in Q3: Indonesia witnesses 94% plunge whereas Vietnam sees 190% surge
With this financing, the startup plans to recruit expertise throughout all capabilities, broaden to new cities within the archipelago, and put money into platform improvement.
Launched in late 2019 by Abdullah Lewis (CEO), Patricco Baron (CTO), and Irianto Siah (COO), LUNA is an Working System for retailers to enhance their operations, funds, accounting, entry to financing, provide chain, digital advertising and marketing, buyer relationship, loyalty programmes, HR, authorized and compliance.
“Retail retailers face an extremely complicated and aggressive market. Many haven’t digitised or are utilizing outdated legacy methods not constructed for Indonesian retailers or MSMEs. We’re the all-in-one system for retail house owners to scale their enterprise and supply enhanced buyer experiences,” CEO Lewis stated.
Additionally Learn: What you may study Singapore, Indonesia from this record of high tech startups
Its options embrace a cell point-of-sale system with a built-in enterprise useful resource planning (ERP)/accounting system (Luna POS); QRIS, debit, and bank card fee enablement (Luna One); financing help for MSMEs (Luna Capital); on-line net (TokoLuna); and digital provide chain options (Luna Mart); authorized help, firm registration, and patenting (Luna Authorized); serving to MSMEs to handle social media and promoting (Luna Adverts); in addition to HR administration, loyalty packages, and buyer relationship administration choices.
In line with the corporate, it covers over 70 cities in Indonesia and is rising over 20 per cent m-o-m, with over 7,000 lively retailers onboarded.
LUNA has partnered with main banks comparable to Financial institution Jawa Barat, CIMB Niaga, Financial institution Neo Commerce and Nobu Financial institution; P2P lenders Koinworks and Batumbu, and wi-fi community operator Smartfren. The corporate is rolling out an HR administration system and extra value-added companies to fulfill the wants of MSMEs as a complete answer.
“With 90 per cent of all MSMEs in ASEAN primarily based in Indonesia, we consider there’s nonetheless a big, untapped market presently dealing with a scarcity of entry to new expertise and capital. We consider LUNA’s distinctive entry to MSMEs by means of its rural financial institution partnerships together with their POS system software program function prime knowledge assortment factors which is able to allow enterprise house owners entry to their full suite of product choices,” stated Glen Ramersan, Managing Associate & Head of Indonesia, TNB Aura.
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Picture Credit score: LUNA.
The submit LUNA will get TNB Aura backing for its Working System for Indonesian retailers appeared first on e27.
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