The round was led by Maloekoe Ventures, with participation from Golden Gate Ventures, Fenox VC, and East Ventures
Indonesian fintech startup Jojonomic today announced that it has raised US$1.5 million round led by Maloekoe Ventures, with participation from Golden Gate Ventures, Fenox VC, and East Ventures.
Jojonomic plans to use the funding to launch new features and expand to new markets. In a May 2016 report by DailySocial, the company revealed that it aims to enter the Southeast Asian region.
Starting off as a personal financial management app, in October 2015 Jojonomic have also launched Jojonomic Pro, a platform to help companies manage employees’ reimbursement.
Also Read: Meet the 6 Indonesian startups joining Google Launchpad programme
“We believe in the future of B2B SaaS system in this country and region. We were also impressed by the Jojonomic team and what it has achieved,” said Adrien Gheur, Co-founder and Managing Partner of Maloekoe Ventures.
Jojonomic was founded in 2015 by former Groupon CEO Indrasto Budisantoso. It amplifies the use of gamification to make the daunting task tracking one’s expenses more fun and enjoyable.
The startup claims that its Jojonomic app was one of the firsts in Southeast Asia that is compatible with the Apple Watch.
In January, it was chosen as one of the six Indonesian startups to participate in the Google Launchpad Accelerator first batch programme.
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