BukuWarung is reportedly in the middle of completing funding worth more than 1 trillion rupiah

The startup accounting application developer for micro-entrepreneurs BukuWarung is reportedly closing its latest funding round. From source Deal Street Asia, the investment value is estimated at $70 million or the equivalent of more than 1 trillion Rupiah. Peter Thiel (Co-Founder of PayPal) venture capital Valar Ventures led the round which soon closed with status "oversubscribed" this.

With the closure of the investment, it is estimated that BukuWarung has managed to raise a total funding of more than $90 million during its approximately two years of operation. Since its establishment in 2019, BukuWarung claims has embraced 3,5 million users from small merchants spread across 750 cities and districts in Indonesia -- the majority are in tier-2 and 3 cities. With their user base, they have recorded transactions worth more than $15 billion on their platform and have processed over $500 million in payments.

Regarding the latest funding news, we have tried to confirm to one of the founder BukuWarung, but he refused to comment.

Previously in early February, BukuWarung just announced new funding from Rocketship.vc. It is said that the round involved several retail companies in Indonesia and angel investors. This continues from A pre-series raise which the company has recorded since mid-2020, at that time Quona Capital was the lead investor.

Some of the venture capitalists involved in the BukuWarung funding include Y Combinator, East Ventures, AC Ventures, DST Global Partners, Golden Gate Ventures, and Tanglin Venture Partners.

In Indonesia, BukuWarung is in tight competition with another similar player, BukuKas. Both are equally supported by many investors. Earlier this year, BukuKas had just announced a series A funding of IDR 2021 billion led by Sequoia Capital India – the organizer of the Surge accelerator, which BukuKas also participated in. New they are new launch payment feature, as one of the embodiments of the vision to be a service fintech.