LUNA, an Indonesian embedded fintech and vertical software as a service (SaaS) platform for retailers and micro, small, and medium-sized enterprises (MSMEs), has on Thursday announced the completion of a round of financing led by TNB Aura through its TNBA Scout initiative.

LUNA said in a statement that the funding also saw participation from Seedstars as well as existing investors 1982 Ventures, Century Oak Capital, and Prasetia Dwidharma.

With this round of financing, LUNA plans to recruit talent across all functions, expand to new cities in Indonesia, and invest in platform development to become the only SaaS platform a retail merchant needs to operate their business.

Launched in late 2019, LUNA is the full-stack operating system for merchants to improve their operations, payments, accounting, access to financing, supply chain, digital marketing, customer relationship, loyalty programs, human resource (HR), legal and compliance.

LUNA currently covers over 70 cities in Indonesia, growing over 20 percent month-on-month with over 7,000 active merchants onboarded to date.

“We see a massive opportunity in vertical SaaS for Indonesian retail merchants,

“Not only is this one of the largest and most important industries in Indonesia, we are best-positioned to help our customers digitize their entire operations, grow their businesses, and enhance their workflows,” said Abdullah Lewis, Chief Executive Officer of LUNA.

“Retail merchants face an incredibly complex and competitive market. Many have not digitized or are using outdated legacy systems that were not built for Indonesian retailers or MSMEs,

“LUNA is the all-in-one system for retail owners to scale their business and provide enhanced customer experiences,” he added.

According to the statement, LUNA’s full-suite of solutions for retailers include: mobile point-of-sale system with a built-in enterprise resource planning (ERP)/accounting system (Luna POS); QRIS, debit, and credit card payment enablement (Luna One); financing support for MSMEs (Luna Capital); online web (TokoLuna); and digital supply chain solutions (Luna Mart); legal support, company registration, and patenting (Luna Legal); helping MSMEs to manage social media and advertising (Luna Ads); as well as HR management, loyalty programs, and customer relationship management offerings.

“With 90 percent of all MSMEs in ASEAN based in Indonesia, we believe there is still a large, untapped market presently facing a lack of access to new technology and capital,

“We believe LUNA’s unique access to MSMEs through its rural bank partnerships along with their POS system software serve as prime data collection points which will enable business owners access to their full suite of product offerings,” said Glen Ramersan, Managing Partner & Head of Indonesia, TNB Aura.

LUNA is led by a team of experienced retail entrepreneurs, including Abdullah Lewis, Patricco Baron (Chief Technology Officer), and Irianto Siah (Chief Operating Officer).

As a serial entrepreneur in the retail space, Lewis recognized many of the difficulties that Indonesian MSMEs faced in managing their businesses, and created LUNA to offer retail merchants a suite of tools that would help them digitize their businesses—starting with point-of-sale and expanding to all other critical solutions and services.

“LUNA is at the forefront of Indonesia’s digital transformation, and well-positioned to empower MSMEs with a comprehensive suite of solutions. Enabling digitization, workflow automation, and seamless digital payments, LUNA also opens access to much needed financing,

“With over 60 million MSMEs in Indonesia, LUNA stands poised to make a monumental impact in this space.,” said Patricia Sosrodjojo, General Partner, Seedstars.

LUNA has established partnerships with major banks such as Bank Jawa Barat, CIMB Niaga, Bank Neo Commerce and Nobu Bank; P2P lenders Koinworks and Batumbu, and wireless network operator Smartfren. The company is rolling out an HR management system as well as additional value-add services to better meet the needs of MSMEs as a comprehensive solution.

“LUNA’s vertical SaaS platform helps businesses manage operations better and earn more revenue,

“Through its marketplace, they can find loans, receive digital payments, engage suppliers and discover new ways to earn. Banks, Lenders, and network operators choose Luna when they want a strong partner to improve their services,” said Scott Krivokopich, Founding Managing Partner, 1982 Ventures.

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