Jakarta-headquartered Cashlez is a mobile point-of-sale startup. Its wireless card reader makes it easier for small and medium businesses to accept different types of card payments.
How it compares to competitors: Cashlez says it distributes its solution through partnerships with banks. It’s also developing an integration with ewallets for digital payments. It already accepts Dimo Pay. Additional ewallets, like Go-Pay, are on the way.
- Since taking up operations in 2016, Cashlez now works with more than 1,000 merchants, mainly in the retail and tourism industry.
- The plan for this year is to distribute around 4,000 card readers to Indonesian businesses.
- As part of the funding, it announced a partnership with Moka, which develops software that lets store owners keep track of orders and payments.
Amount raised: US$2 million
Funding stage: Undisclosed
Lead investor: Mandiri Capital
Other investors: Gan Kapital, others
Investment type: Undisclosed
Purpose: Supporting Cashlez’s operational costs, purchasing hardware, marketing
Total disclosed funding to date: US$2 million
This post Brief: Cashlez raises $2m to expand operations in Indonesia appeared first on Tech in Asia.