BukuKas helps owners of Indonesian MSMEs understand and manage their financial flows more effectively with an easy-to-use digital ledger they can download on their smartphone.
Micro businesses in Southeast Asia form the backbone of the region’s economy, but most small business owners still track their financial activities with pen and paper. Many small neighbourhood stores, meanwhile, let local customers shop on credit, which is also tracked manually. The BukuKas mobile app provides a simple and powerful bookkeeping solution for them to monitor sales, profit and credits – and send WhatsApp reminders to their customers when credit is due.
This allows small business owners to save significant time on a daily basis, avoiding tedious manual calculations and reconciliation. More importantly, they gain better visibility on what drives their profits and cash flows to actively improve them.
The number of merchants using BukuKas grew 20x and the number of transactions grew 60x in the January to March 2020 period, with most merchants using the product several times every day. As of March 2020, BukuKas serves over 250,000 merchants.
The company’s vision is to support and accelerate the process of financial inclusion and digitization of MSMEs across SEA, starting from Indonesia. BukuKas plans to expand its offering with neo-banking services, bringing SEA’s large unbanked population to the financial ecosystem through innovative and customer-centric digital banking solutions.
The company was founded in Indonesia in 2019 by serial entrepreneurs Krishnan Menon and Lorenzo Peracchione.
The founders first worked together during the early days of Lazada Indonesia in 2012. Krishnan subsequently founded and led Fabelio, the leading furniture e-commerce player in the country. Lorenzo drove the entry of the cosmetics startup Luxola in Thailand and, following its acquisition by LVMH, led Sephora’s e-commerce business in Asia.
*Angel investors: Alternate Ventures, Christian Sutardi, Edward Tirtanata, Graeme Brown, Filippo Lombardi, Guillem Segarra, James Prananto, Karan Khetan, Karthik Kota, Laurent Billieres, Nandini Joshi, Nipun Mehra, Patrick Walujo, Prasetia Dwidharma, Sandeep Tandon, Stefano Galluccio and YC Ng