Numerals Indonesian startups have been receiving spotlights. After Ajaib, BukuKas announced to have raised $10 million from Series A led by Sequoia Capital India. BukuKas proves its significance to small- to medium-sized businesses during the pandemic.
BukuKas accumulated millions from Sequoia Capital India and numeral other investors
Earlier today, BukuKas announced to have raised $10 million in Series A led by Sequoia Capital India. With the additional fund, BukuKas have accumulated $22 million. Several returning investors involved in the funding include Saison Capital, January Capital, Founderbank Capital, Cambium Grove, Endeavor Catalyst and Amrish Rau.
BukuKas: digital bookkeeping made easy
First launched in December 2019, Bukukas provides convenient mobile digital ledger. Though recently, the app has been expanding its service to create an “end-to-end software stack” for small business, Tech Crunch notes.
As of November, BukuKas recorded 3.5 million small merchants and retailers registers as users with 1.8 million monthly active users. Accordingly, BukuKas recorded $17.4 billion worth of transactions on an annualized basis back in November 2020. The number corresponds to more than 1.5% of Indonesia’s $1.94 trillion GDP.
BukuKas eases SME owners in keeping track of their business performance. The mobile application also allows its users to remind buyers about product payment through WhatsApp. It can also automatically generates invoices for the purchase. Additionally, BukuKas can create an inventory management module and study users expenses to find out aspects affecting their profit.
Despite the variety of helpful services provided, BukuKas revealed to be aiming to add digital payments to its application this month. The plan for 2021 is also filled with more additional features to ease businesses in selling their products.
Chief executive officer of BukuKas, Khrisnan Menon told Tech Crunch that applications like BukuKas have become a significant tool for businesses amidst the pandemic. “With COVID-19, SMEs are rushing to get digitized, but they lack the right mobile-first tools to sell online as well as to manage their business,” he said.