Bukukas Indonesia 50M
Having secured the funding for its Series B round, bukukas Indonesia is inching closer to its goals. The company recently received a boost in growth with the introduction of COVID-19, a mobile payment solution designed to help consumers save money on their mobile bills. Now the company is looking to become a preferred partner for the merchant ecosystem.
COVID-19 has boosted growth of bukukas indonesia
Having survived COVID-19 last year, the Indonesian start-up BukuKas is now raising $50 million in a Series B funding round, which is five times bigger than its first round. The new round is led by Sequoia Capital India and Sequoia Capital Indonesia, and includes former Lazada Indonesia CEO Maximilian Bittner and TransferWise CEO Taavet Hinrikus.
BukuKas offers digitalisation tools for small businesses. Its users include social commerce sellers, electronics stores, service providers, and small stores. It also offers payment analytics, inventory management, and invoicing. BukuKas plans to expand its service to 20 million MSMEs by 2022. The company has also tapped into digital ledger app Catatan Keuangan Harian, which it acquired in September.
BukuKas will use the Series B funding to expand its engineering and product teams in Jakarta. It will also launch new services for merchants. The company aims to help more small businesses go global.
The company has about three million monthly active users and is expanding its platform, which it calls Lummo. It offers online payment services, inventory management, and payment analytics. Using the company’s application, businesses can take orders via WhatsApp and send invoices to customers.
Goals of bukukas indonesia
Amongst Indonesia’s burgeoning entrepreneur class, one nebulous company has been getting in on the action. BukuKas, as it is now known, has a small but mighty bevy of employees that have a flair for the biz dev. Founded in 2010, BukuKas has already amassed a healthy seed round that includes Sequoi Capital India, the dubious trophy of the bunch, and Gokul Rajaram, the god of the big daddy DoorDash. A slick ad campaign has been underway for a few months now that has managed to garner more than a few press clippings. A marketing blitz has been the order of the day with one or two well wishes from the big boss.
Series B funding round
During its recent Series B funding round, Indonesia-based fintech startup BukuKas has reportedly secured $50 million in funding. According to the startup, it will use the funding to hire engineers and product teams. The company will also use the funding to expand its product offerings and strengthen its leadership team.
BukuKas is a digital ledger app for small businesses in Indonesia. It offers invoicing, inventory management and payment analytics. Its users are said to represent 2.2% of Indonesia’s GDP. The startup has onboarded 6.3 million small traders and businesses. It is now working to onboard 20 million MSMEs in the region by 2022. It has about three million monthly active users.
According to the startup, BukuKas is now one of the top two digital ledger apps in Indonesia. The startup plans to become an end-to-end software stack for MSMEs. BukuKasPay is an online payment service that allows businesses to pay suppliers online. The app supports a range of digital payment methods, including electronic wallets.
Become preferred merchant ecosystem partner
Founded in Indonesia, BukuKas is a digital transformation startup that aims to empower small business owners. The startup offers a bookkeeping platform, which provides invoicing, inventory management, and payment analytics. Currently, the startup has over three million users and has onboarded over 6.3 million businesses. It is aiming to reach 20 million merchants and customers by 2022.
The startup was originally launched as a digital ledger app, but it expanded into invoicing and inventory management. BukuKasPay was launched in April and allows small businesses to pay suppliers online. It supports popular electronic wallets. In the meantime, BukuKas also launched a new commerce enablement platform called Tokko. It helps merchants set up online shops and sell on social commerce channels. Some merchants earn up to tens of thousands of dollars a month.
The startup plans to expand its services and strengthen its engineering capabilities. Its current users include small store owners, electronics stores, and service providers. The company claims to have registered 6.3 million small merchants. This number is equivalent to 2.2% of the Indonesian economy.