Bunker Secures Funding of IDR 75 Billion from Alpha JWC, Northstar, and a Number of Investors

Bunker, a financial analytics platform based in Singapore, managed to secure an initial funding of $5 million or equivalent to IDR 75 billion. Investors involved in this funding include Alpha JWC Ventures, January Capital, Northstar Group, GFC, Money Forward, to name a few angel investors such as Chris Lin, Rosemary Hua, and Tiger Fang.

Vision Bunker wants to support startups/MSMEs in Southeast Asia and Hong Kong towards ideal profitability and growth. This startup was founded by Shivom Sinha in August 2021. Previously he started his career at KKR, then helped the strategic finance division to Gojek, Uber, and Kargo throughout Indonesia and regional areas.

Bunker started after the acquisition of "Project Beta", a bookkeeping and tax services consultancy, which is now a subsidiary called Bunker Books. Former Beta Project CEO Jibrilia Alamsjah has now joined as Co-Founder and strategic advisor to design Bunker products to serve C-levels by leveraging his executive experience.

Co-Founder & CEO of Bunker Shivom Sinha stated that in the current economic situation, CEOs and CFOs adhere to high standards in corporate financial strategy. However, cycles Financial Analysis and Planning (FP&A) proved shallow, slow, and consumed too many hours of work each month.

The most complete financial data in a company is a bookkeeping document, however, disassembling and processing the data is quite complex. While negligence can cause cash flow and bad budgeting.

Bunker Service

The bunker positions itself as a platform financial analytics modern technology that provides in-depth financial visibility, by turning thousands of missing data in bookkeeping files into profitable business information for executives, in just a matter of days. 

Software the Bunker design easily traces data through scanning thousands of transaction lines and other data that is often overlooked in company accounting data or software Enterprise Resource Planning (ERPs). Bunker clients are claimed to have demonstrated cost savings of at least 10% over OpEX during first use.

Companies use the Bunker platform to identify opportunities to negotiate specific fees and payment terms with vendors, driving budgeting ad-hoc and better manage investor relations or fundraising. This service has covered the markets of Indonesia, Singapore, the Philippines and Hong Kong.

This service has also been integrated with for mobile devices to report the such as Xero, NetSuite, QuickBooks, Journal, Accurate, SAP, and others. Different from other business intelligence software on the market, Bunker offers ease and speed in terms of implementation. In just days and without complicated installation or training for users.

In addition, this platform has been adapted to country management systems in Southeast Asia and Hong Kong in operationalizing FP&A data. Bunker Services includes monthly PDF reports consisting of bullet points, graphs and tables in easy-to-understand language, and enables cross-functional strategic collaboration.

Several companies are already using Bunker's services, including a clothing rental platform backed by Softbank and Style Theory. In addition, a waste management and recycling company Waste4Change also said to have succeeded in increasing gross margin by 20% through optimal financial management with Bunker

Financial analytics market

The financial analytics market has been positively impacted by the COVID-19 pandemic, as increased volatility, increased uncertainty in business has led to the adoption of financial analytics software that helps businesses follow financial decisions across multiple end-user verticals.

The increase in widespread adoption of computing devices, the increase in advanced storage capabilities and the growth in innovation of new analytical tools are presenting new possibilities for market participants, which, in turn, are driving the growth of the global financial analytics market.

Additionally, there is increased awareness among end users about the benefits of financial analytics solutions, especially for data analysis real-time and decision making has a positive impact on market growth.

In the Financial Analytics Market report published by Allied Market Research, the global financial analytics market is estimated to be valued at US$7,6 billion in 2020, and is projected to reach US$19,8 billion by 2030, growing at a CAGR of 10,3% from 2021 to 2030.