Indonesia-based BukuKas has reportedly netted $50m Series B funding, which comes hot off the heels of the company’s former round.
The round was backed by DoorDash CEO and founder Gokul Rajaram and TransferWise CEO and co-founder Taavet Hinrikus, according to a report from TechCrunch.
Capital from the round will be used to bolster its engineering and product teams in Jakarta and Bangalore as well as launch new products.
BukuKas previously raised $10m in its Series A round back in January 2021. Sequoia Capital India served as the lead investor, with participation also coming from Saison Capital, January Capital, Founderbank Capital, Cambium Grove and Endeavor Catalyst.
The FinTech company 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 has the goal of becoming an end-to-end software stack for micro, small and medium-sized businesses, and support 20 million clients by the end of 2022, it said.
There have been a handful of Indonesian FinTech companies to close funding this year. Cermati.com, which claims to make financial information more available, recently secured its Series C round, and digital payments infrastructure developer Xendit collected $64.6m in its Series B round.
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