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July 1, 2022
Finance Technologies

BukuKas raises $50m Series B just four months after Series A

BukuKas, the Sequoia Capital-backed Indonesian fintech serving small business’ digital and accounting needs, has landed $50 million in Series B funding. Just four months after its $10 million Series A, the latest round means BukuKas now counts Wise co-founder, Taavet Hinrikus. BukuKas’ CEO, Krishnan Menon, previously worked at Alibaba-owned e-commerce firm Lazada Indonesia The funds will go towards propping up BukuKas’ anticipated leadership additions, as well as fuelling its product developments across Jakarta and Bangalore. Launched in December 2019, BukuKas says it already serves some 3.5 million small merchant and retail users from across Indonesia. Beginning as a digital bookkeeping app, the start-up has since diversified its product lines. One such route has seen it develop an “end-to-end software stack” for small businesses. In September 2020, BukuKas acquired a digital ledger app Catatan Keuangan Harian, expanding its market share. The launch of its commerce enablement platform Tokko shortly followed, which has helped some 1.3 million small sellers create their own digital shop to date. “The Jakarta bubble” BukuKas’ CEO, Krishnan Menon, who previously worked at Alibaba-owned e-commerce firm Lazada Indonesia, set up the fintech with Lorenzo Peracchione – BukuKas’ chief operating officer. “One of the things that stood out was how different the Jakarta bubble is from the rest of Indonesia,” Menon told TechCrunch earlier this year. “All the way from the penetration of software to financial services.” He says that despite small business’ large presence in Indonesia, companies weren’t building products with them at the centre. Small and medium-sized enterprises…
BukuKas raises m Series B just four months after Series A

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