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BukuWarung, a fintech for micro, small, and medium enterprises (MSMEs) in Indonesia, has raised $60 million in Series A funding from investors Valar Ventures, Goodwater Capital and existing investor Sequoia India. The capital will be used to expand the Indonesian startup’s product offerings and financial services such as lending and accounts receivable management.

Brothers founded the startup are Aditiatrikayasa Hutomo and Wito Lairotul Laila in 2017 to help MSMEs automate their accounting process and make payments more easily. It offers an integrated platform where MSMEs can access accounting software, make financial transactions (for payroll, etc.), track daily sales performance and more.

Over 35 million small businesses generate 66% of Indonesia’s gross domestic product (GDP), yet they lack access to basic banking products like loans or savings accounts. BukuWarung aims to bridge this gap by offering digital financial services that are easy to use but not overly expensive for these businesses to maintain.

BukuWarung Overview

BukuWarung is a fintech company based in Indonesia that provides digital solutions to the country’s micro, small, and medium enterprises (MSMEs). Founded in 2018, BukuWarung offers a comprehensive suite of services such as payroll, invoicing, bookkeeping, and other digital financial tools.

Recently, the company announced a $60M Series A funding round led by Valar Ventures and Goodwater Capital. In this article, we’ll look at BukuWarung and its operations.

Overview of the company

BukuWarung is an Indonesian-founded fintech platform primarily designed to help small and medium businesses (MSMEs) with accounting, bookkeeping, payroll management and data analytics. Founded in 2018 by Iqbal Kidric and Pedro ATI, with a mission to empower MSMEs in Indonesia, the company has raised $60 million in Series A funding led by Valar Ventures and Goodwater Capital.

BukuWarung provides users with a mobile-based app to track their income and expenses, manage customer payments, manage taxes and produce insights into their business activities. The platform currently caters to more than 300,000 users nationwide — from small shopkeepers to farmers — offering them access to previously unavailable financial services. BukuWarung also provides its partners an API access through which they can automate transactions securely and efficiently.

BukuWarung also offers products like cashless card payments for merchants called “TapTap” and automated customer relationship management tools that enable users to collaborate effectively with customers. These products are designed so that anyone can use them without needing prior knowledge or training.

In 2021 alone, BukuWarung announced partnerships across various sectors; fintech collaborations with Gopay Indonesia on automatic payment reconciliation; credit scoring collaborations with CreditRisk+; loyalty system collaborations with Miayam; integrations with Blibli’s ecommerce platform; ecommerce collaboration shipper Apigee Logistics; banking solution integration via Digital Transaction Banking alliance announced by PT Bank Central Asia Tbk (BCA); Open Banking collaboration with Kayo on unified KYC integrations and access APIs of major banks in Indonesia such as Bank DKI and Bank CIMB Niaga etc .

Through this series A funding boost coupled with new partnerships along the way, BukuWarung hopes to continue supporting more MSMEs within its country and the neighboring regions, thus further building a firm foothold in Southeast Asian finance industry for MSME innovation.

The company’s mission and vision

BukuWarung, a fintech dedicated to helping Indonesian MSMEs access financial services, was founded on democratizing access to financial services and enabling 2020’s digital-first lifestyle and workforce. The company believes that MSMEs strive on goal-oriented financial solutions tailored to help them succeed in today’s competitive business environment.

At its core, BukuWarung offers an all-in-one software solution to manage and track the entire life cycle of an MSME – including finances, accounts receivables & payables, sales management & tracking, customer service & engagement, employee management & payroll automation – making it easy for entrepreneurs and small business owners to handle everyday operations without any hitches.

The BukuWarung app also integrates with a unified digital payment system that allows users to send money instantly through multiple payment channels ranging from bank transfer apps such as Gopay or OVO to credit/debit cards or direct cash deposits. This makes it easy for microenterprises to accept payments from their customers seamlessly. Furthermore, the app provides users with detailed insights into their operations via their analytics dashboard to better understand their customers’ behaviour and greater control over their operations.

BukuWarung is thus perfectly positioned to provide everything necessary for small business owners to manage a successful enterprise in one intuitive yet secure platform – leading the way in improving financial inclusion in Southeast Asia!

The company’s products and services

BukuWarung is a technology platform designed to help Indonesian micro, small, and medium enterprises (MSMEs) scale and succeed. The company’s products and services offer a digital infrastructure for small businesses, including recruitment and training tools, customer relationship management support, cash flow management solutions, financial product offerings, e-invoicing capabilities and payroll processing options.

Specifically for enterprise operations support, BukuWarung offers various cloud-based solutions. For instance Bookly Solution Suite specializes in managing customers to rationalize processes such as invoicing and payments. Additionally BukuStar software provides seamless payroll deduction capabilities to facilitate payment from employee salaries or sales commissions.

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In terms of improving business operations visibility through data analytics, Buku Financial Solutions tackles the challenge by providing an insight dashboard that tracks activities such as sales performance or income statements. On the recruitment process side WarungTalent Solution Suite affords training tools including internship programs to simplify task workflow assignment as well as helping employers manage staffing needs effectively. Moreover offering loan products as part of its fintech capabilities, Buku Loan allows customers easy access to credit without leaving their business place in constantly changing Indonesian markets.

Series A Funding

Series A funding is very important for any start-up, and BukuWarung, a fintech designed to serve Indonesian MSMEs, has just raised a $60M Series A. The funding was led by Valar Ventures and Goodwater Capital, with participation from existing investors Y Combinator, Unusual Ventures and Kalibrr.

Let’s take a look at what this funding could mean for BukuWarung.

Overview of the funding round

BukuWarung, a fintech focused on providing financial services to Indonesia’s micro, small and medium-sized businesses (MSMEs), recently announced its completion of an impressive $60 million Series A funding round led by Valar Ventures and Goodwater Capital. Additional investors participating in the round included Y Combinator, YJ Capital, Bedrock Capital, East Ventures, Flourish Ventures and angel investors from Silicon Valley.

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The capital financing will allow BukuWarung to accelerate its development of innovative products that better serve the needs of Indonesian MSMEs. The company’s cash management platform enables users to access short-term loan services at competitive interest rates and other funding solutions. BukuWarung plans to use the Series A funds to expand its product offerings and continue investing in customer service and marketing initiatives in the coming months. The investment will also have a significant impact on research & development efforts as well as strategic partnerships.

With this new funding round under its belt, BukuWarung is well-positioned to meet the financial needs of Indonesia’s MSME community with their cutting edge technological solutions. Its long-term goal is to reduce inequality between digital haves and have nots by providing fair access to credit without leaving anyone behind.

Investors involved in the round

The Series A round of investment for BukuWarung was led by Valar Ventures, a venture capital firm that specializes in SaaS, fintech and consumer-related investments, and Goodwater Capital, a venture capital firm based in Palo Alto with investments across the U.S., Europe and Southeast Asia, including other notable Indonesia startups such as Gojek and Tokopedia.

Also participating were Latitude (the investment arm of Indonesian conglomerate Lippo Group), BeeNext (a fin-tech focused venture fund backed by Goldman Sachs and UOB Venture Management), Global Founders Capital (early-stage investors from Germany responsible for several blockbuster exits such as Wolt, Auto1 Group and Auto Trader) as well as existing investors Y Combinator and Agate. The round also saw participation from angels who have been actively contributing to the growth of the fintech sector in Indonesia — Jaideep Prakash, Co-founder & CEO at Kumu; Shaifur Rahman Rezza & Saugata Bhattacharyya, Founders at Avrio Ventures; Anugrah Rama Tajudin Founder & CFO of Shopee & Wealthboss Asia; Yozhi Prasetiawan Merchant Strategist of Moka; Masayasu Sando CTO/CPO at Allianz X; Aaditya Siroya Managing Director Lumen Galaxies. collective; Nicholas Ong Chairman at Warung Pintar.

The amount raised

BukuWarung, a Jakarta-based fintech that helps micro-, small- and medium-sized enterprises (MSMEs) in Indonesia, has raised $60 million in its Series A financing round. The round was led by the venture capital firms Valar and Goodwater Capital, with participation from Quadrille Capital and existing investors BAce Capital, Alpha JWC, Insignia Ventures Partners, Greenoaks Capital and Y Combinator.

The latest investment brings BukuWarung’s total funding to roughly $85 million since its founding in 2018. This catapults it into the unicorn league of startups valued at over $1 billion. Reports say the fresh capital will be used to hire talent, expand BukuWarung’s product offerings, deepen its presence in more cities across Indonesia, and strengthen its foothold in the nascent Indonesian fintech industry.

Impact of the Funding

The recent funding boost for BukuWarung is a significant event in the Indonesian fintech ecosystem. The $60M Series A is set to positively impact Indonesian Micro, Small and Medium-sized Enterprises (MSMEs) by improving access to financial services and expanding financial inclusion for millions of local businesses.

How the funding will be used

BukuWarung, a fintech for Indonesian micro, small and medium-sized enterprises (MSMEs), has just announced the completion of a $60 million Series A led by Valar Ventures and Goodwater Capital. The funding will further develop and scale BukuWarung’s services for users in Indonesia.

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Most of the funding will focus on expanding the service offering to meet customer needs. The funds will also strengthen engagement between MSME customers and BukuWarung. In addition, funds from the investment round will help the company accelerate product development to bring innovative solutions to its users in Indonesia.

BukuWarung plans to use this funding mainly as follows:

  • To expand its team of developers so that it can build additional tools and products tailored for specific needs of Indonesian MSMEs;
  • To improve user experience by streamlining customer feedback systems and processes;
  • To broaden its customer base by increasing marketing efforts;
  • To increase access across Indonesia, especially in rural areas with limited infrastructure;
  • And lastly, to establish partnerships with third parties that can support financial inclusion initiatives in collaboration with BukuWarung.

The new funds from this round of financing will allow BukuWarung’s existing products such as SBOK Bookkeeping Software, Account Management Tools, Mobile Money Payment Services and Automatic Invoice Tracking Solutions for MSMEs in Indonesia continue their growth path along with developing innovative products such as Cashless Transactions, Business Banking Services and Supply Chain Solutions aimed at giving more options for finances generating strength for micro business across the country.

How the funding will benefit Indonesian MSMEs

BukuWarung, a fintech platform that provides financial management and lending services to Indonesian Micro, Small and Medium Enterprises (MSMEs), recently raised $60 million in its Series A funding round led by Valar Ventures and Goodwater Capital. The funds will be used to continue expanding BukuWarung’s suite of financial products for MSMEs.

This new round of funding will help BukuWarung meet the rising demand from Indonesian MSMEs for simpler, more reliable financial solutions. It will also allow them to develop more innovative products that can increase access to finance for these businesses. With these products in place, MSMEs can easily access tailored loan packages, build their creditworthiness and obtain financial insights to make strategic business decisions that would lead to strong business growth.

BukuWarung’s offerings are aimed at helping small businesses in Indonesia run efficiently and securely with processes such as digital payments, bookkeeping and automated invoicing capabilities while providing them access to capital without long wait times or hefty fees. With expanded product range through this funding round, MSMEs across Indonesia can benefit from several other facilities such as working capital loans, online sellers’ payments solutions, and comprehensive financial analytics tools for business insights.

Additionally, the funding will equip BukuWarung with the latest technologies required to improve its customer experience on the platform with features such as AI-driven customer support chatbots or machine learning-based fraud detection engines. This would help users overcome hurdles such as customer service availability issues or lack of trust due to risk of fraud while using digital services.

Through this new series A funding round, BukuWarung plans on developing solutions that provide streamlined operations and scale up their user base while empowering high-growth potential Indonesian MSMEs.


This news demonstrates the increasing popularity of fintechs, particularly in emerging markets. Companies like BukuWarung, who offer valuable solutions to underserved MSMEs, are becoming crucial for many business owners.

The recent $60 million Series A funding led by Valar and Goodwater Capital will allow BukuWarung to unlock even more abilities to serve its target market and support economic development in Indonesia. This also shows us that venture capitalists can be influential in integrating technology into markets traditionally underserved by digital solutions, resulting in significant improvements for small businesses worldwide.