Basic Introduction

Cashlez was founded in 2016. The company is committed to providing payment solutions for small and medium-sized enterprises, including fully certified bank card payment gateways, merchant reporting tools, etc. As one of the first startups to develop payment solutions in Indonesia, Cashlez has more than 1,000 partner merchants , most of which are in the retail and tourism industries. The company is currently working with Visa in the field of credit card acceptance and distributing 5,000 mobile POS machines (mPOS) in some popular tourist cities .

Competitors

Cashlez is committed to providing payment solutions, including fully certified bank card payment gateways, merchant reporting tools, etc.

The company’s most direct competitor is Moka , another Indonesian mobile POS startup based in Jakarta, of which MCI , Convergence Ventures , East Ventures , Fenox VC and Northstar Group have become investors.

Operational Model

Cashlez says it can promote its solutions through partnerships with banks. It integrates multiple digital payment methods, such as Dimo ​​Pay , and e-wallets such as Go-Pay will be integrated in the future. The wireless card reader it developed makes it easy for small and medium-sized enterprises to accept different bank card payment methods. Through Cashlez , small and medium-sized enterprises can get more affordable and innovative digital payment solutions.

Financing

In 2017 , Cashlez received US$ 2 million in seed round financing, led by Mandiri Capital Indonesia ( MCI ), a venture capital firm under Bank Mandiri , and participated by Gan Kapital and others.

In April 2019 , Indonesian fintech startup Cashlez completed an undisclosed amount of Series A funding led by Japanese conglomerate Umitomo Corporation . Cashlez CEO Teddy Tee said the funds will be used to expand the business, establish new services and product development. (DealStreetAsia)

References