With Krishnan Menon, Founder & CEO, Lummo
Nipun Mehra, Co-founder, Ula
Alan Hellawell, Founder and Host, Indo Tekno Podcast (Moderator)
The business of digitalising the over 63 million of small establishments spread across Indonesia has proved to be a lucrative opportunity with the sector receiving over a billion dollars in funding. And, at least a dozen venture-backed startups have sprung up offering a myriad of services ranging from bookkeeping to point of sales to supply chain support and more. The pandemic has only accelerated digitalisation of Indonesia’s roadside stalls that sell everything from food to groceries to sundries and also small businesses.
This session features Indonesia’s Lummo (formerly BukuKas), which raised $80 million in its Series C funding round in January this year led by Tiger Global Management and Sequoia Capital India. Armed with the funding, Lummo plans to beef up its tech talent team, expand to new geographies such as Vietnam, Thailand and the Philippines and also grow its BNPL play.
We also feature Jakarta-based B2B marketplace Ula that raised a total of $110 million recently in its Series B round from storied backers including Tiger Global Prosus Ventures, Tencent, B Capital, and others. Ula seeks to expand its BNPL offering and utilise AI to serve its SME customers better. The company also plans to expand its geographical reach and hire more team members.
Lummo founder & CEO Krishnan Menon and Ula co-founder Nipun Mehra will share their insights into the new niches emerging in Indonesia’s big SME digitalisation space in this session moderated by Indo Tekno Podcast founder and host Alan Hellawell.