Cloud business management platform Jojonomic raises funding from Finch Capital
Southeast Asia-operated expense and business management platform Jojonomic has announced an undisclosed amount of funding raised led Finch Capital. Participating in the round are Jojonomic’s existing investors East Ventures and Golden Gate Ventures.
This round makes for Jojonomic’s shareholder base, which now covers Europe, the US, Japan, Indonesia, and Southeast Asia.
Jojonomic had said it intends to use the funding for completing Jojonomic’s portfolio of business solutions, integrating external data, expanding its customer base across Indonesia, and beyond, and developing further Jojonomic’s use of machine learning.
With the investment, Finch Capital brings its financial technology and will put Hans De Back, partner of Finch Capital on the company’s board.
“Jojonomic addresses the inefficiencies businesses often face by providing an expense and business management platform to managers and employees. We are look forward to working together in facilitating the daily activities of Southeast Asian businesses and creating the future of work,” said De Back.
Jojonomic first introduced JojoExpense to be the digital expense management platform in Southeast Asia with the aim to help employees achieve work by automating and bringing transparency to manual processes such as expense reports.
“By using Jojonomic, professionals hopefully will increase their productivity, focus on the things they are passionate about, and let the platform handle time-consuming administrative tasks,” said Jojonomic’s CEO and founder Indrasto Budisantoso.
Jojonomic offers a cloud-based business suite that helps companies manage business expenses with JojoExpense, enhance employee productivity with JojoTimes, manage procurement with JojoProcure, create a cashless ecosystem with JojoCashCard, and handle digital documents with approval flows. These applications can all be accessed under its Saas platform called JojonomicPro that target SMEs and enterprises.
Currently, Jojonomic is integrated with cloud-based accounting and business platforms such as SAP, Oracle, Microsoft, Xero, and OpenBravo. The system is integrated with Indonesia’s five largest banks to enable direct account payment and reimbursement, allowing end-to-end expense and cash management.
Jojonomic claims that it has tens of thousands of active users and support corporations and SMEs across sectors.