JAKARTA. BukuKas, a digitalization platform and application for Micro, Small and Medium Enterprises (MSMEs) in Indonesia, recently secured a US$ 10 million in fresh fund from Series A funding led by Sequoia Capital India.
A number of investors who previously funded BukuKas were also involved in the Series A funding. Some of them are Saison Capital, January Capital, Founderbank Capital, Cambium Grove, Endeavor Catalyst, and Amrish Rau. This series A funding also adds to the total funds raised by BukuKas since 2019 to US$ 22 million.
After receiving this funding, BukuKas will carry out a number of strategy strengthening. Starting from accelerating merchant acquisitions, strengthening engineering and product teams, and expanding the range of services offered to MSMEs in Indonesia.
"This round is an important step for us to continue working towards our mission of empowering 60 million small traders and retailers in Indonesia to turn them digital," said Krishnan Menon, CEO and Co-Founder of BukuKas, to idnfinancials.com today.
At the end of November 2020, BukuKas already had 3.5 million small traders and retailers registered as application users, with 1.8 million monthly active users. Meanwhile, the total transactions booked by the BukuKas platform reached US$ 17.4 billion during November 2020. (KR/LM)