BukuKas Secures Series A Funding Worth of 142 Billion Rupiah Led by Sequoia Capital India

A startup developing a financial record keeping app for SMEs, BukuKas, today (12/1) announced Series A funding of $10 million or the equivalent of 142 billion Rupiah. This round was led by Sequoia Capital India with the participation of previous investors, including Saison Capital, January Capital, Founderbank Capital, Cambium Grove, Endeavor Catalyst, and Amrish Rau.

Founded in 2019, BukuKas has successfully raised $22 million or the equivalent of 313 billion Rupiah from investors - including through seed and pre-series A rounds. The additional capital will be focused on accelerating merchant acquisitions and building up the technical/product team at the Jakarta office. and Bangalore.

As of November 2020, BukuKas users has reached 3.5 million with 1.8 million active monthly users. However, BukuKas has quite some competitors in market share. The closest one is BukuWarung, with a business model similar to that of millions of users. In addition, there are several local startups that have also launched SME financial records applications, including Credibook, Moodah, Teman Bisnis, Akuntansiku, etc.