JAKARTA - Paper.id, a Software as a Service (Saas) startup announced series A funding of tens of billions of rupiah from Golden Gate Ventures and Modalku. The fresh funds obtained will be used to develop its products so that it can help millions of MSMEs in Indonesia that have not been touched by digitalization.

"Series A funding and Paper.id's growth is validation that our solutions can help entrepreneurs who have not been touched by digitalization and in the future can encourage the progress of MSMEs even faster," explained Jeremy Limman, CEO and Co-Founder of Paper.id in a release. With this, SMEs can get help in reaching the digital world for business progress and impact on the Indonesian economy.

Paper.id was established in 2016 by Jeremy Limman and Yosia Sugialam (CTO and Co-Founder) and carries a mission to help MSMEs in Indonesia. Through their business platform, Paper.id hopes to help MSMEs in making invoices and bookkeeping digitally.

In the future, Paper.id will also continue to develop features and services to meet the needs of MSMEs in managing their business. One of the newest services to be launched is Paper Finance Solution. Led by Anthony Huang as COO Paper.id, this service collaborates with peer-to-peer (P2P) lending services, with one of its main partners, Modalku, and is expected to be a bridge between MSMEs and financial institutions for transparent and channeling of funds secure.

Currently, there are more than 100,000 business actors who use Paper.id with more than 800,000 invoices that have been made. This number is predicted to continue to grow given the increasing number of features and services that will be provided for the advancement of business units in Indonesia. (LM)