Indonesian fintech BukuWarung raises US$60m in Series A funding

Indonesian fintech startup BukuWarung has raised US$60 million in Series A funding in a round led by Valar Ventures and Goodwater Capital.

Other investors in the oversubscribed round include existing investors and angel investors such as former GoPay chief executive Aldi Haryopratomo, Klarna founder Victor Jacobsson, as well as partners from SoftBank and Trihill Capital.

The latest funding brings BukuWarung’s total funding to date to about US$80 million, it said in a press statement on Thursday.

The startup will use the funds to enhance its technology and product capabilities across its core accounting, digital payments and commerce products. This includes building a “robust payments infrastructure” to solve deeper use cases for Indonesian merchants, such as QR payments and financial services.

It also has “aggressive hiring plans”, with plans to double its team size to 300 from 150 and triple its engineering and product teams across Indonesia, Singapore, India, as well as remote teams in other locations, the company said.

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Source: Indonesian fintech BukuWarung raises US$60m in Series A funding, Garage – THE BUSINESS TIMES