Total amount raised
$80 Million
Latest funding date
06/01/2021
Location
BukuWarung has successfully raised funding through five rounds, attracting the attention of notable investors such as Goodwater Capital and Valar Ventures. The platform offers a suite of services including digital payments, bookkeeping, and e-commerce solutions tailored for MSMEs in Indonesia.
Keep reading to explore the intricacies of BukuWarung's fundraising journey and the investors backing this innovative platform.
What Is BukuWarung?
BukuWarung is a financial technology company based in Jakarta, Indonesia, dedicated to empowering Micro, Small, and Medium Enterprises (MSMEs). The platform offers a range of services including digital payments, bookkeeping, and e-commerce solutions, specifically tailored to meet the needs of Indonesian businesses.
Founded in Jakarta, BukuWarung has grown to employ between 101-250 people. The company operates across multiple industries such as accounting, credit, fintech, payments, and software, and has a significant user base spread across 34 provinces in Indonesia.
With over 8 million users, BukuWarung has made a notable impact on the Indonesian economy, contributing to the GDP and helping increase the income of SMEs. The platform continues to innovate, offering features like business loans, financial tracking, and digital product sales to support the growth and financial literacy of small businesses.
How Much Funding Has BukuWarung Raised?
- Series A
- Amount Raised: USD 60,000,000
- Date: June 2021
- Lead Investors: Goodwater Capital, Valar Ventures
- Valuation at Round: Estimated between USD 225 million to USD 250 million
- Motivation Behind the Round: To enhance technology and product capabilities, particularly in accounting, digital payments, and commerce products.
- Series A
- Amount Raised: USD 20,000,000
- Date: February 2021
- Lead Investors: Rocketship.vc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand services and scale operations to better serve MSMEs in Indonesia.
- Seed
- Date: September 2020
- Lead Investors: JAM Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and launch of their digital payment and bookkeeping solutions.
- Seed
- Date: July 2020
- Lead Investors: Quona Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their platform and expand their user base.
- Seed
- Date: April 2020
- Lead Investors: East Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart their operations and build a foundational user base.
Total Amount Raised: USD 80,000,000. Current Valuation: Estimated between USD 225 million to USD 250 million.
Key Investors
- Goodwater Capital
- Details: Goodwater Capital is a venture capital firm that focuses on early-stage consumer technology companies. They have a strong track record of investing in companies that aim to improve the daily lives of consumers.
- Investment Focus Areas: Consumer technology, fintech, e-commerce
- Notable Investments: Musical.ly (acquired by ByteDance), KakaoTalk, Stash
- Valar Ventures
- Details: Valar Ventures is a venture capital firm that primarily invests in early-stage technology companies. They are known for their global investment strategy and have backed several high-profile startups.
- Investment Focus Areas: Fintech, technology startups, e-commerce
- Notable Investments: TransferWise (now Wise), N26, Xero
- Rocketship.vc
- Details: Rocketship.vc is a venture capital firm that uses data science to identify and invest in high-growth technology companies. They focus on companies that leverage data to drive their business models.
- Investment Focus Areas: Technology, data-driven companies, fintech
- Notable Investments: Not publicly disclosed
- JAM Fund
- Details: JAM Fund is an early-stage venture capital firm that invests in technology startups. They are known for their hands-on approach and support for their portfolio companies.
- Investment Focus Areas: Early-stage technology startups, fintech, software
- Notable Investments: Not publicly disclosed
- Quona Capital
- Details: Quona Capital is a venture capital firm that focuses on financial technology companies in emerging markets. They aim to improve access to financial services for underserved populations.
- Investment Focus Areas: Fintech, emerging markets, financial inclusion
- Notable Investments: Not publicly disclosed
What's Next for BukuWarung?
As BukuWarung looks to the future, the opportunities are vast. The company aims to enhance its technology and product capabilities, focusing on digital payments, inventory management, and financial services like lending and insurance. With Indonesia's 60 million micro SMEs contributing significantly to the GDP, BukuWarung's potential market is enormous.
Future fundraising opportunities are likely, given the company's ambitious plans and the successful oversubscribed funding rounds. Attracting more investors will be crucial as BukuWarung scales its operations and expands its service offerings. However, challenges such as competition from other fintech companies and ensuring the adoption of digital tools by traditionally offline merchants remain.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like BukuWarung and gather other critical business insights.
Sign up for free to start unlocking valuable information that can drive your sales success.
