JAKARTA - Financial management app BukuKas has raised seed funding for an undisclosed amount in a round led by Surge, a startup accelerator programme owned by Sequoia Capital India.
Other investors participating in the round include redit Saison, Hustle Fund, Whiteboard Capital, 500 Startups, and a number of other angel investors. BukuKas was founded in December 2019 by the startup's CEO Krishnan M. Menon and COO Lorenzo Peracchione with seed investment from Whiteboard Capital.
According to Mr Menon, the fresh funds will be used to strengthen the startup’s business and support Indonesian MSMEs in effectively managing their finances with digital bookkeeping.
“We are aware that the most difficult aspect faced by MSMEs is how to organise their finances and understand their profit and loss statement. Small businesses can greatly benefit from the digitalisation of their finances,” said Mr Menon in an official statement received by IDNFinancials.com, Friday (8/5).
Through BukuKas’s mobile app, business owners can monitor their financial transactions and send reminders to customers through WhatsApp. As of April 2020, BukuKas has served over 250,000 MSMEs with US$150 million in transaction value. (MS)