BukuWarung Gets Series A Funding of 855 Billion Rupiah, Aldi Haryopratomo Involved as Angel Investor

BukuWarung today (10/6) announced that it has secured series A funding worth $60 million or equivalent to 855,3 billion Rupiah. With condition oversubscribed, the round was led by Valar Ventures and Goodwater Capital. This acquisition is also claimed by the company as the largest A series ever obtained by a startup in a related field.

In addition, Golden Gate Ventures and Blue Fund are reportedly also involved in this round. Including supported angel investors such as Aldi Haryopratomo, Victor Jacobsson, and several others. As for the total successful funds Booked at WarungBook its investors are estimated to have reached more than $80 million.

In early February, BukuWarung also announced funding from Rocketship.vc. It is said that the round involved several retail companies in Indonesia and angel investors. This continues from the pre-series A fundraising that the company has recorded since mid-2020, when Quona Capital was the lead investor.

According to sources we got, BukuWarung's valuation has reached $200 million. The investors involved in the BukuWarung funding include Y Combinator, East Ventures, AC Ventures, Soma Capital, Sampoerna, HOF Capital, GMO Venture Partner, Venture Souq, Tanglin Venture Partners, DST Global, and a number of investors. angel investors from the heads of technology companies like Grab, Gojek, Uber, Airbnb, Modalku, Xendit, etc.

This acquisition was announced not long after his rival BukuKas also received an injection funds from investors worth $50 million. The round was led by Sequoia Capital India, also attended by a number of angel investors celebrities, such as Gokul Rajaram and Taavet Hinrikus, co-founders of TransferWise.

The two applications provide almost the same services, namely financial management for MSME actors. It includes financial records, financial reports, and debt collection features. In the future, both BukuWarung and BukuKas will also transform into services fintech integrated, enabling MSME actors and their customers to access various financial products online.

Currently their main focus is users in tier-2 and 3 cities, with a population unbankable which is still quite large in the region. From the statistics given, BukuWarung has attracted 6,5 million merchant in 750 cities.

To support its services, BukuWarung has also launched an application Tokoko, a platform that allows merchants to open their online stores independently. Users can list their products, manage orders, accept payments, track deliveries, and talk to customers.