Indonesia-based BukuKas said to secure $9m in its Series A round

Cloud accounting software BukuKas has reportedly bagged $9m in its Series A round to increase its presence in Indonesia.

The round was supported by Sequoia Capital India, Saison Capital, Speedinvest, S7V, January Capital and Cambium Grove Capital, according to a report from Business Times.

Based in Indonesia, BukuKas provides micro and small-businesses with a cloud accounting solution. Clients can access digital bookkeeping to record sales, expense and cash transactions through their mobile phone.

Its dashboards enables users to manage all of their invoices, calculate stock, create income statements, invoice summary reports and more.

BukuKas chief executive and co-founder Krishnan Menon told Business Times, “The speed at which BukuKas has grown in the last eight months since launch has shown us that more than ever, Indonesian small businesses are ready to go digital.

“Seventy-three per cent of merchants are outside of tier-one cities today – and very few products and services are built for them. BukuKas is committed to reaching them, as they are the real Indonesia, the spine of our economy.”

Fellow Indonesian FinTech platform Spenmo recently closed its seed round on $2m, with contributions coming from Y Combinator, Rocket International, Iterative Capital and angels from the XA Network.

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