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bukaPO sees 2,500 percent increase in less than 6 months
bukaPO, a social commerce startup in Bali, reported significant growth of up to 2,500 percent in less than six months.
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ukaPO, a social commerce startup in Bali, reported significant growth of up to 2,500 percent in less than six months. While it was established during economic growth of -12 percent in Bali, sales increased by more than 25 times shortly after its launch. In less than 3 months, it has sold more than 300,000 micro and small business products.
The commerce firm was launched to help micro and small businesses that were economically affected by the pandemic. In Bali alone, half of micro and small businesses went bankrupt, some people lost their jobs and others had their salary reduced by up to 80 percent.
With the pre-order system, bukaPO allows people to reopen their businesses with minimum capital and no financial risk. One of its success stories is Miss Sophia, a small business owner who had to close her store down and subsequently lost the income to pay her children’s tuition. After she joined bukaPO, she was able to continue selling cendol and soy bean milk, and now has sold over 20,000 bottles, earning Rp 200 million in just four months. She is just one of the many vendors grateful for the service.
In order to further help business owners, the company is offering weekly discounts, subsidized by bukaPO, in order for each brand to gain more exposure through consistent promotion done by the platform. Moreover, through the “We are One” program, sellers can automatically become resellers of other merchants’ products and are able to generate additional income of up to Rp 5 million per month.
Founder & CEO Olaf Purvis stated bukaPO’s commitment to creating a healthy ecosystem that allows vendors on the platform to have easy access to loans, through its collaboration with Bank Mandiri, one of Indonesia’s largest banks. In addition, bukaPO also provides inexpensive raw materials for vendors, with prices lower than the distribution center rate.
The social commerce firm received its first funding from Bali Investment Club in September 2021, and now the club will lead the next round of funding in Pre-Series A, the funds from which will be used to expand the operational area to Java and make more social and economic impact.
