Paper.id Reportedly Receives Series B Funding Led by Go-Ventures

Paper.id is reported to have completed the follow-up fundraising in the series B round. According to data submitted to regulators, this round was led by Go-Ventures and supported by a number of investors such as BM Capital, Skystar Capital, PT Kaya Alam Internasional, Living Lab Ventures, and Redbadge Pacific.

The investment obtained is estimated at around $12 million or around 187 billion Rupiah. We have tried to confirm with the relevant team to ask for a statement.

In the middle of last year, the company provided information to DailySocial.id that they currently doing a Series B fundraiser. Paper.id Co-Founder & CEO Jeremy Limman said, at that time the company was in the finalization process and it was planned that the fresh funds would be used to support product development which has proven to be growing rapidly during this pandemic.

The last funding received by Paper.id was in 2019 for the series A stage from the company fintech Modalku and Golden Gate Ventures. Early in 2018 they also received initial funding from Golden Gate Ventures.

Expand services and partnerships

Since the start of the pandemic, Paper.id claims the number of users has grown almost 3x compared to before. Amount invoice those that have been processed have reached the highest level of more than IDR 9 trillion, this figure is claimed to have increased 2x from the same period last year.​

Currently Paper.id has 300 thousand users and is spread across more than 300 cities and districts in Indonesia.

Founded at the end of 2016, Paper.id can be integrated with large company ERP systems via API or as a solution end-to-end for MSMEs so as to connect and digitize the entire process supply chain.

Paper.id provides various features to support digitalization invoice, business payments using various methods, one of which is credit cards, billing and business recording on one platform with a freemium model.

The company has also launched products paylater or Buy Now, Pay Later (BNPL) B2B. For buyer, they can get benefits in the form of extended time. Supplier You can also experience other benefits from this product through a new feature called "Get Paid Faster".