Total amount raised
$71 Millions
Latest funding date
05/01/2022
Location
Mekari has successfully raised funds through multiple rounds, reaching up to a Series E round. The company is backed by eight investors, including BEENEXT and Alto Partners.
Keep reading to explore the intricacies of Mekari's fundraising journey and the investors backing this innovative platform.
What Is Mekari?
Mekari, founded in January 2015, is a SaaS company headquartered in Jakarta, Indonesia. The company was established by Anthony Kosasih, Daniel Witono, Dirman Suharno, and Suwandi Soh.
Specializing in business automation technology, Mekari offers cloud-based solutions to help businesses of all sizes digitize and streamline their operations. With a workforce of 1001-5000 employees, Mekari serves over 35,000 businesses across Indonesia, providing tools that enhance productivity and support strategic decision-making.
How Much Funding Has Mekari Raised?
- Series B
- Amount Raised: Not publicly disclosed
- Date: October 2018
- Lead Investors: East Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their SaaS offerings and scale operations.
- Series C
- Amount Raised: Not publicly disclosed
- Date: December 2019
- Lead Investors: EV Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their product offerings and enter new markets.
- Series D
- Amount Raised: $21M
- Date: May 2021
- Lead Investors: Money Forward
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the digital transformation of MSMEs.
- Series E
- Amount Raised: $50M
- Date: May 2022
- Lead Investors: Money Forward
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into financial technology services.
Total Amount Raised: $71M. Current Valuation: Not publicly disclosed.
Key Investors
- Money Forward
- Details: Money Forward Inc. is a Japanese fintech firm and the largest SaaS provider of financial planning and accounting applications in Japan. The company led the $50 million Series E funding round for Mekari.
- Investment Focus Areas: Financial planning, accounting applications, SaaS.
- Notable Investments: Mekari.
- EV Growth
- Details: EV Growth is a venture capital firm that focuses on growth-stage companies in Southeast Asia. They led the Series C funding round for Mekari.
- Investment Focus Areas: Technology, consumer internet, financial services.
- Notable Investments: Not publicly disclosed.
- East Ventures
- Details: East Ventures is an early-stage venture capital firm that has invested in over 170 companies across Southeast Asia. They led the Series B funding round for Mekari.
- Investment Focus Areas: Technology, e-commerce, digital media.
- Notable Investments: Tokopedia, Traveloka, Ruangguru.
- BEENEXT
- Details: BEENEXT is a venture capital firm that invests in early-stage technology companies in India, Southeast Asia, Japan, and the USA. They are one of the investors in Mekari.
- Investment Focus Areas: Technology, e-commerce, SaaS.
- Notable Investments: Zilingo, NoBroker, Trusting Social.
- Alto Partners
- Details: Alto Partners is a private equity firm that focuses on investing in mid-market companies in Southeast Asia. They are one of the investors in Mekari.
- Investment Focus Areas: Consumer goods, healthcare, financial services.
- Notable Investments: Not publicly disclosed.
What's Next for Mekari?
As Mekari ventures into financial technology services, the company is poised to capitalize on the burgeoning fintech market in Indonesia. This expansion offers significant growth potential, especially with the increasing digital transformation among businesses. The recent $50 million funding round underscores investor confidence and sets the stage for further acquisitions to enhance their service offerings.
Future fundraising opportunities appear promising, given Mekari's robust growth trajectory and the expanding SaaS market in Southeast Asia. However, the company may face challenges such as intense competition from other fintech providers and regulatory hurdles. Navigating these obstacles will be crucial for Mekari to maintain its momentum and continue its upward trajectory.
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