Quahe Woo & Palmer LLC advised Beecash (BuKukas), an Indonesia-based digital ledger application for micro, small and medium enterprises (MSMEs) in Indonesia, in its US$9 million Pre-Series A investment

Our Venture Capital team led by Keith Oh advised Beecash (BuKukas), an Indonesia-based digital ledger application for micro, small and medium enterprises (MSMEs) in Indonesia, in its US$9 million Pre-Series A investment round with a host of investors including Surge by Sequoia India, Speedinvest, S7V, January Capital and Cambium Grove Capital. The investment validates the traction BukuKas has achieved within 8 months of launch with over 800,000 small merchants and retailers using the app in over 700 cities and districts across Indonesia, with more than US$1.3 billion in annualized value of transactions. The investment will allow BukuKas to expand its product offerings and build on its market leadership in Indonesia. The investment brings the total funding raised to US$12 million.