POS Startup Olsera Receives Initial Funding of 35,8 Billion Rupiah from Kejora-SBI Orbit Fund

Platform developer startups point-of-sales (POS) Olsera today (07/1) announced the acquisition of an initial funding of $2,5 million or equivalent to 35,8 billion Rupiah from the Kejora-SBI Orbit Fund - a managed fund in collaboration between Kejora Capital (Indonesia) and SBI Holdings (Japan).

With these fresh funds, Olsera will continue to strengthen technology infrastructure, recruit more talent, and help digitize the businesses of MSMEs in more than 200 other cities in Indonesia.

Founded in 2014, Olsera claims to have served more than 10.000 MSMEs in 300 cities in Indonesia to digitize their business. The solution presented by Olsera POS is not only limited to recording transactions, users are also assisted with ERP features that include inventory management, accounting, marketing, personnel, services, and other functions.

"As fellow entrepreneurs, we understand very well that building and maintaining a business in these times is not an easy thing. Since 2015, we ourselves have continued to learn and focus on one thing, how Olsera can help other entrepreneurs to grow even more by implementing technology that makes it easy to use. managing their business," said Olsera Co-founder & CEO Novendy Chen.

Variation of finished product value proposition

It is undeniable that in the realm of developing POS services, Olsera is dealing directly with many competitors. Call it Moka, Qasir, majoo, Pawoon, Youtap, iSeller, and many others. For this reason, it is important for each player to focus on emphasizing their value proposition.

For Olsera, product innovation is the key to providing added value to its users. In 2020, they launched the Zenwel service to make it easier for business actors in the service sector to manage reservations online. Recently, they introduced service e-commerce enablers Olsera Store to help MSMEs to be able to manage online sales.

"During the pandemic, we saw quite a number of MSMEs being affected by sales because the business they owned was still there offline. We launched Olsera Store so businesses can transform their store offline they become online so that they can continue to run their business,” said Olsera Co-founder & CTO Ali Tjin.

Ali continued, “At the same time, business actors in the service sector suffer losses related to implementation social distancing. We wanted to help them, and so Zenwel grew. Specially designed for service business lines, Zenwel is equipped with calendar scheduling, reservation features online, CRM and programs loyalty to support their customer acquisition and retention."

Noisy POS player competition

Globally, the service market size POS globally has reached $10,39 billion in 2021, projected to grow 9.5% from 2021 to 2028. Of course, this is a very large market, even so in Indonesia, the potential comes from the very large MSME ecosystem and becomes an important component in the national economy.

KemenkopUKM data shows that around 64,2 million MSMEs have contributed to the country's economy by 61,07 percent or worth Rp. 8.573,89 trillion. The government itself has set an ambitious target, which is to bring 30 million MSMEs into the digital economy by 2024. As of September 2021, the Indonesian E-Commerce Association (idEA) noted that around 16,4 million (25%) had entered the digital ecosystem; nearly doubled during the pandemic.

This potential encourages innovators to present the most relevant POS services, especially in the MSME segment. From our records, a number of POS players have also received support from investors, even two of them have exit through acquisitions and IPOs, here is the list: