Moka’s innovation as a SaaS (Software as a Services) provider for cashiers is not limited to the features in the application. They also present services to help SMEs develop businesses. One of those is Moka Capital, a service that connects SMEs with various types of capital institutions under OJK supervision.
Moka Capital practically began operation since mid-2018. Currently, they have worked with various p2p lending platforms such as Koinworks, Taralite, and Modalku.
The Moka team is said to have distributed capital loans worth more than Rp40 billion to more than 300 business people. They offer various numbers of loans from IDR5 million to IDR2 billion with tenors from 3 to 18 months.
“Systematically, we provide access for Moka merchants to connect with the integrated fintech partners. Through the back-office, merchants can choose partners they see fit to each the requirements that have been attached,” Moka’s VP Brand & Marketing Bayu Ramadhan said.
Moka also claims the submission process through the Moka Capital system is easier than conventional loan products. In addition, funding is offered without collateral.
“Merchants can submit applications without attaching financial reports and transaction lists because all sales data have been integrated with the Moka system for the purposes of credit analysis for partners,” Bayu added.
Moka’s journey to help merchants is not without obstacles and challenges. One of which is to give an understanding that easy access to investors can help businesses to develop.
“Moka will expand collaboration with various financial institutions and the financial services industry in Indonesia, to provide relevant loan products, therefore, more business players can benefit from business development through capital funds obtained through Moka Capital. Currently, Moka is conducting a trial collaboration with various other institutions to provide funding in the form of equity crowdfunding and credit line facilities,” Bayu said.
Moka currently runs several digital ecosystems besides POS, including Moka Pay, Moka Capital, Moka Fresh, and Moka Connect. Moka Pay is a payment aggregator application, while Moka Fresh is a service that connects food suppliers for culinary merchants.
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Original article is in Indonesian, translated by Kristin Siagian