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Startups

Digitalizing Indonesia's mom-and-pop economy draws investors

Sellers of daily necessities account for 80% of grocery market

Street stalls and small shops are an integral part of Indonesian society, especially outside of cities.   © Reuters

JAKARTA -- Startups that aim to digitalize Indonesia’s smaller businesses continue to attract investor money even amid the coronavirus pandemic.

BukuWarung, a bookkeeping app provider for Indonesian micro, small and medium-size enterprises (MSMEs), on Tuesday announced that it had raised an unspecified amount of capital from global investors after graduating from Y-Combinator, a prominent U.S. tech accelerator. BukuWarung has raised three rounds of funding this year, taking its total to "8-figure U.S. dollars," according to the company.

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