“We also know good potential exists in Indonesia, where we can help 60 million micromerchants come online and digitize.
“We can look at this more deeply given the experience we have monetizing merchants at Grab and Carousell,” Chauhan said. But the inspiration behind BukuWarung is also personal, because both Chauhan and Peddisetty’s families run small neighborhood stores. Chauhan also worked on products for merchants at Grab, the largest ride-sharing and on-demand delivery company in Southeast Asia. BukuWarung has also raised seed funding from East Ventures, AC Ventures, Golden Gate Ventures, Tanglin Ventures, Samporna, as well as strategic angel investors from Grab, Gojek, Flipkart, PayPal, Xendit, Rapyd, Alterra, ZEN Rooms and other companies.Ĭhauhan and Peddisetty met while working together at Singapore-based, peer-to-peer marketplace Carousell, where they focused on developing monetization products for sellers. The startup is currently taking part in Y Combinator’s startup accelerator program. Their goal is to start with bookkeeping tools, before expanding into services, including access to working capital. Chinmay Chauhan and Abhinay Peddisetty, the co-founders of BukuWarung, want to digitize the process with a financial platform designed especially for small Indonesian businesses. Many often extend informal lines of credit to shoppers, but much of their financial tracking is still done with pen and paper ledgers. In Indonesia, there are about 60 million “micromerchants,” typically small store owners who sell food and other staple items, and have close relationships with their customers.
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