Hedosophia, Saison Capital, and Several Investors Involved in BukuKas Series B Funding

Mid-May 2021 ago, BukuKas just announced $50 million series B funding. Sequioa Capital India said to be leading the round followed angel investors Gokul Rajaram and Taavet Hinrikus.

From the data we got, a number of well-known global investors took part in the round. London-based venture capitalist Hedosophia is said to be the leader in this round, with the majority participating in the total funding (est $30 million).

Besides that, there are also limited partners which joins the total involvement of almost a fifth of the total shares traded, namely Gemini Investments. It is known that this LP has also participated in Memories Coffee funding and Payfazz.

The list of other investors involved and not mentioned in previous reports includes Cormano Trade & Investment, Saison Capital, Dogan Online, Cambium Grove Capital, Alter Global, Delaware, January Capital, Orion Advisor, TS Guardians, and Endeavor Catalyst.

With this funding, BukuKas is currently estimated to have reached a valuation of $195 million.

Until April 2021, BukuKas has succeeded embracing 6,3 million shop owners and small business actors, of which almost half or as many as 3 million users are monthly active users. BukuKas recorded an accumulated transaction value of nearly $25,9 million, or equivalent to 2,2% of Indonesia's GDP.

BukuKas targets that by 2022, the company can grow the number of users to 20 million MSMEs.

Meanwhile his main rival BookStore At the beginning of June 2021, it also just announced the closing of its series A funding led by Valar Ventures and Goodwater Capital. This round resulted in an investment of $60 million, bringing the company's valuation to around $190 million.

Both BukuKas and BukuWarung both offer applications to help MSME players record daily transactions. Its long-term mission is to bring service fintech comprehensive for MSMEs in Indonesia.