Indonesia’s BukuWarung Raises Funding From Rocketship.vc, And Others

Indonesian startup BukuWarung, an accounting app for micro-enterprises, has raised funding from Rocketship.vc,
and early backers of global fintech players Adyen, Nubank, Revolut, and an Indonesian retail giant.

Rocketship.vc, a Silicon Valley-based global investor, is also a backer in Khatabook, an Indian market leader in the
digital bookkeeping space.

The financial terms of the round remain undisclosed.

A source familiar with the matter told DealStreetAsia that the startup has raised around $20 million in total funding
so far.

In September last year, BukuWarung had raised an undisclosed amount from a host of investors after graduating
from Y-Combinator.

The latest funding will enable the firm to expand its technology and product team in Indonesia, India, and
Singapore.

“We launched a digital payments solution for our merchants, which has seen strong adoption and is already
processing over $500 million in payment volumes. Our focus this year is to enhance our payment offerings and
enable more digital payment use cases for our merchants,” BukuWarung co-founder Chinmay Chauhan said in a
statement.

BukuWarung was founded in 2019 by Chinmay Chauhan and Abhinay Peddisetty, who previously worked at
Carousell together.

To date, more than 3.5 million merchants have joined BukuWarung from tier 2 and 3 locations.

The startup claims that its technology helps the merchants to improve the bookkeeping process by tracking
transactions including credit, expense, sales, and cash flow visibility through business reports.

The startup recently partnered WarungPintar and others to create an ecosystem to serve MSME needs.

BukuWarung is backed by Y-Combinator, Quona Capital, East Ventures, AC Ventures, DST Global Partners, Golden
Gate Ventures, and Tanglin Venture Partners. Its angel investors include Michael Sampoerna, Plaid co-founder
William Hockey, Snapdeal founders as well as strategic angels from Grab, Gojek, Stripe, Modalku, Xendit, Airbnb,
Carousell, and Rapyd.

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