LUNA Raises Funds from TNB Aura and Seedstars to Become Indonesia’s Vertical SaaS platform for Retailers

LUNA Raises Funds from TNB Aura and Seedstars to Become Indonesia’s Vertical SaaS platform for Retailers
October 16, 2023

LUNA, an Indonesian embedded fintech and vertical SaaS platform for retailers and MSMEs, today announced the completion of a round of financing led by TNB Aura through its TNBA Scout initiative, with participation from Seedstars as well as existing investors 1982 Ventures, Century Oak Capital, and Prasetia Dwidharma.

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, HR, legal and compliance. LUNA currently covers over 70 cities in Indonesia, growing over 20% month-on-month with over 7,000 active merchants on boarded to date.

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.  

LUNA is led by a team of experienced retail entrepreneurs, including Abdullah Lewis (CEO), Patricco Baron (CTO), and Irianto Siah (COO). As a serial entrepreneur in the retail space, Abdullah 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.

“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 the best positioned to help our customers digitize their entire operations, grow their businesses, and enhance their workflows,” said Abdullah Lewis, CEO, 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 Many have not digitized or are using outdated legacy systems that were not built for Indonesian retailers or MSMEs.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."

Scott Krivokopich, Founding Managing Partner of 1982 Ventures stated, “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,”

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.

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