Fintech Platform LUNA Aims for Internal Growth With Latest Funding

LUNA intends to use this round of funding to grow internally, expand to new cities in Indonesia, and engage in platform development to become the only SaaS platform a retail merchant requires to run their business.

TNB Aura's TNBA Scout initiative led to the closure of a financing round for LUNA, an Indonesian embedded fintech and vertical software as a service (SaaS) platform for merchants and micro, small, and medium-sized enterprises (MSMEs). According to LUNA, Seedstars and current investors 1982 Ventures, Century Oak Capital, and Prasetia Dwidharma participated in the fundraising.

LUNA is a full-stack operating system for merchants to improve their operations, payments, accounting, access to financing, supply chain, digital marketing, customer interaction, loyalty programmes, human resource (HR), legal, and compliance. It was launched in late 2019. It now serves over 70 cities in Indonesia and is growing at a rate of more than 20% month on month, with over 7,000 active merchants on board.

"Not only is this one of the largest and most important industries in Indonesia, but 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.

Abdullah Lewis, Patricco Baron (Chief Technology Officer), and Irianto Siah (Chief Operating Officer) lead the LUNA team of experienced retail entrepreneurs.

Lewis, a serial entrepreneur in the retail space, recognized many of the challenges that Indonesian MSMEs faced in managing their businesses and founded LUNA to provide retail merchants with a suite of tools to help them digitize their businesses, beginning with point-of-sale and expanding to all other critical solutions and services.