Momofin, a document and contract lifecycle management company based in Indonesia, has received an undisclosed sum from investors, including Rorian Pratyaksa, co-founder of local social commerce platform Woobiz, and Firlie Ganinduto, president director of credit-scoring startup Digiscore.
Momofin said it was its first investment round. It will use the fresh funds to strengthen its product line.
Since being established earlier this year by Pranowo Putro, Saga Iqranegara, and Yoga Pratama, Momofin has served over 10,000 users and 100 enterprise clients. Peruri, a state-owned money and security document-printing company, also picked Momofin as a strategic tech partner.
Currently, the startup has two products: MomofinGO, a cloud web-based document and contract lifecycle management system for businesses, and eMET, an electronic seal app for individual customers.
The company is looking to raise another round of funding that will go toward developing its digital ecosystem and growing its user base.
“With the new funding, we want to innovate our product technology to be more sophisticated by applying artificial intelligence. We hope that with our existing data, we can develop automation features to facilitate our users in the future,” Putro said in a statement.