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BRI Ventures announces strategic investment in Bukalapak
Venture capital firm BRI Ventures has announced that it has made strategic investments in supporting 13.5 million micro, small and medium enterprises (MSMEs) in the Bukalapak ecosystem.
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(Courtesy of BRI )
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enture capital firm BRI Ventures has announced that it has made strategic investments in supporting 13.5 million micro, small and medium enterprises (MSMEs) in the Bukalapak ecosystem. This is part of the company’s commitment to encouraging financial inclusion for sustainable MSME empowerment, and as part of the funding strategy undertaken by Indonesian unicorn Bukalapak announced at the end of 2020.
MSMEs in Indonesia have a very important role in the economy, with government data noting that MSMEs contributed 60.34 percent to gross domestic product (GDP) and absorbed 58.18 percent of total investment in Indonesia.
Nicko Widjaja, CEO of BRI Ventures said, "This strategic investment in Bukalapak is very important because this is in line with the mission of BRI Group in support of MSMEs. Especially amid the current growth of digital MSMEs, which we believe will be the future national economic generator. This also shows BRI's Ventures commitment to its continuing support for the advancement of the digital start-up ecosystem in Indonesia ”.
"We hope that with the union of two companies with a mission that is in line, we will be able to help accelerate digital penetration in Indonesia and can continue to help create equitable market access and business support that can be accessed by anyone, wherever they are. This is also our focus in making MSMEs more resilient to have a sustainable business, "added Nicko.
Amid the pandemic, Bank Indonesia (BI) data recorded that 87.5 percent of MSMEs were affected. However, 27.6 percent of MSMEs that ran their businesses online had seen improved business. This shows how important it is for MSMEs to be able to adapt to the digital world so that they can continue to develop.
Bukalapak, through its online and offline platform Mitra Bukalapak, has reached more than 13.5 million MSMEs and more than 100 million users throughout Indonesia, enabling them to take advantage of technology to improve their livelihoods. In addition, Bukalapak also launched B2B e-procurement through Buka Pengadaan Indonesia (BPI) in 2019 and Buka Investment Bersama (BIB), a digital-based APERD (Mutual Funds Selling Agent). Of course, these products will further improve Bukalapak's service quality.
BRI Ventures as the corporate venture capital within the BRI Group, continues to innovate in supporting the growth of the start-up and digital ecosystem in Indonesia. The role of BRI Ventures itself is to support the acceleration of innovation by making strategic investments in companies that have fast growth, a broad market and show potential to have a positive impact on Indonesia.
