TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
SME bookkeeping start-up BukuWarung bags $60m series A funding
Change Size
Sulartono stands in his shop, Warung Pintar Elsa, located on Jl. Riau in Menteng, Central Jakarta. Small retailers make up a major chunk of Indonesia’s retail market, according to management consulting company Redseer. (JP/Norman Harsono)
B
ukuWarung, the maker of a bookkeeping and point-of-sale (POS) app for warung (kiosks), has received US$60 million in a series A funding round led by United States-based Valar Ventures and Goodwater Capital.
BukuWarung said the latest investment was the largest series A funding globally for fintech startups in the small and medium enterprises (SMEs) sector and brought the startup's total funding to $80 million to date.
"Investing in BukuWarung is a compelling opportunity, and we proudly announce that this is our first investment in Indonesia," said Valar Ventures founding partner James Fitzgerald as reported by kontan.co.id.
Former GoPay CEO Aldi Haryopratomo and Victor Jacobsson, the CEO of Europe's biggest startup, Klarna, also took part in the funding round as angel investors.
BukuWarung has a number of notable backers, such as fintech-focused venture firm Quona Capital, East Ventures, AC Ventures, Golden Gate Ventures and Tanglin Venture Partners.
Read also: Bookkeeping startup BukuWarung raises pre-A funding from Quona, East Ventures
The BukuWarung app began as an online bookkeeping solution for SMEs. It has since evolved to include digital payments, enabling merchants to move their transactions from offline to online systems.
