BukuKas is a startup focused on digitizing Indonesia’s small businesses which recently raised $50 million in Series B funding. The round included participation from Gokul Rajaram, the DoorDash executive, and Taavet Hinrikus, co-founder and chief executive officer of TransferWise, Edward Tirtanata, founder of Kopi Kenangan etc.
BukuKas was founded by Krishnan Menon and Lorenzo Peracchione, who met while working at Lazada Indonesia. Since our launch as a digital bookkeeping app in December 2019, we have added new features, including online payments and an e-commerce platform. We have onboarded about 6.3 million businesses so far and have a total of 3 million monthly active users. We have an annualized bookkeeping transaction volume of $25.9 billion USD or the equivalent of about 2.2% of Indonesia’s gross domestic product. In September 2020, Bukukas acquired a digital accounting application called Catatan Keuangan Harian to expand the market share before launching an e-commerce platform called Tokko that enables MSMEs to set up online stores. Approximately 1.3 million merchants have created stores using Tokko in the six months since its launch.