This article is written by Willie Shi, and originally posted on his LinkedIn post here.


BukuWarung was established in 2019. Its target market is more than 60 million small and medium-sized enterprises in Indonesia. Micro-enterprise. BukuWarung’s vision is to allow Indonesia’s 60 million small, medium and micro enterprises to increase their financial knowledge, enabling them to use this technology platform to manage and develop their business, starting with bookkeeping and digital payments.

BukuWarung’s services include digital payment, inventory management, batch transactions, and a service called Tokoko ,An e-commerce platform similar to Shopify, which aims to integrate the digital change. It is building a so-called “operating system” for small, medium and micro enterprises, and currently has 750 cities has more than 6.5 million registered merchants, most of which are mature in the second and third tiers. The data shows that up to now. So far, the platform has processed approximately US$1.4 billion in annualized payments, and is expected to process more than annualized payment of over 10 billion U.S. dollars.

BukuWarung’s new round of financing brings its total capital to 80 million US dollars. The company stated that its users ,the increase in payment volume has always been capital efficient, and more than 90% of the funds raised were not spent and lose. It plans to add more MSME-focused financial services on its platform, including loans, savings and insurance. BukuWarung’s new funds will be used to develop digital payment and business products, including QR code support payment infrastructure for payment and other services.

Comment: The idea of encircling rural areas into cities, digital bookkeeping has been extended to digital payments, and financing is a big cow.

Money lover

Money lover focuses on the Vietnamese market. It is a powerful tool for tracking personal finances.Income, expenditure, debt and savings, track personal expenses, income, debt, bills and payments. more important.Yes, the app can predict future expenditures based on the expenditure history, and then provide information on how to stick to the budget suggest. Money Lover is linked to the user’s bank account and gets updated, automatically updating the account balance and fees use, the income of the bank account. View all bank account reports in one place for better control of funds. Now support countries: Vietnam, Thailand, Indonesia, Malaysia, India and Hong Kong, seamless across devices and platforms run, mobile app, Web and PC. Use the premium version to manage individuals more effectively and conveniently finance, delete ads 100%, create unlimited number of wallets, budgets and savings plans, export data to CSV file, cooperate with Finsify Hub to provide linked wallets, enabling users to connect and synchronize bank accounts, transactions with Money Lover and account balance. The service fee is US$2.49/month, US$14.49 / months or 19.99 USD/year.

Comment: Vietnam version 51 credit cards, bank data security issues may be hidden dangers in the future, pay to remove the advertise, which is also a magical market operation strategy that reduces the goodwill of users.


Seedly was launched by a local team in Singapore in 2016 to help users do to make more informed financial decisions, the app allows users to synchronize their financial accounts and manage them better their cash flow. It also introduces a community function that allows users to follow the same rules before making financial decisions. Get a lot of financial knowledge from the industry; intend to build a fair review platform to promote travel insurance to many products such as robo-advisors; as well as those for open electricity payment and SIM-only mobile plans comparison tool.

Acquired by Hyphen Group in 2010. Hyphen Group was established in 2014 and is headquartered in Hong Kong , formerly known as CompareAsiaGroup, is a network of digital financial services companies that aims to bridging the gap between people and finance. Hyphen Group through simple online comparison and educational tools(MoneyHero, CompareHero, MoneyMax, SingSaver, Money101 and MoneyGuru) enables people to build a healthier financial life and accelerates the digitalization of the financial industry (eKos_connect). Hyphen Group has raised more than US$110 million in capital from investors Gold, including Experian, IFC, members of the World Bank Group, Pacific Century Group, Goldman Sachs Investment Partners with VC and growth stocks, ACE & Company, Jardine Matheson, Alibaba Entrepreneurs Fund, SBI Group, H&Q Utrust, Stem Financial and Route 66 Ventures.

Comment: Bookkeeping is derived as a price comparison platform, the products are a bit too rich, so that users will be a little dazzled Chaos, no way to start.


BukuKas is a start-up company focusing on the digitalization of Indonesian small businesses ,US$50 million was raised in this round of financing. This round of financing includes DoorDash executive Gokul Rajaram, TransferWise co-founder and CEO Taavet Hinrikus, Kopi Kenangan founder Edward Tirtanata and others participated.

BukuKas was founded by Krishnan Menon and Lorenzo Peracchione, they met in Lazada Indonesia while working. Launched as a digital bookkeeping application since December 2019. Since its launch, BukuKas has added new features, including online payment and e-commerce platforms. So far, about 6.3 million companies have been joined, with a total of 3 million monthly active users. Annual bookkeeping trade volume is USD 25.9 billion, which is equivalent to about 2.2% of Indonesia’s GDP. 2020 year

In September, Bukukas acquired a digital accounting application called Catatan Keuangan Harian, to expand market share, and then launch an e-commerce platform called Tokko, enabling small, medium and micro enterprises to open and Set up an online store. In the six months since launch, approximately 1.3 million merchants have used Tokko to open shop.

Comments: Bookkeeping is derived as an e-commerce platform, and it will also continue to enter e-payments to finance Daniu No. 2.


Aseal will be launched in Singapore in 2021. It is a simple and easy-to-use life accounting application that can be used for both Bookkeeping is completed in seconds, a very fast experience, and you can also scan and record transactions. Suitable for individuals and small businesses,Simple and easy-to-use expense and income management application and financial solution, the main functions are daily record .Accounts: Record expenditures and incomes, and can also automatically scan records. You can set a monthly budget, which is financial management. Good helper, automatically calculate and display your balance after bookkeeping, clear graphs help quickly analyze consumption .In addition, you can customize daily reminders to track your account at any time. Earn points while tracking your account so that has become a habit, and is currently doing activities of redemption of points for cash coupons.

Unlike other accounting software, Aseal can provide API-based data based on user behavior and records. AI user portraits to improve users’ access to more financial services from other financial platforms. Next step into India,Nepal, Malaysia, Vietnam, Philippines.

Comments: Simple, completely free, back to bookkeeping itself, the first to launch user portraits.


GoBear is a financial services and data platform whose mission is to improve the financial situation of Yi users. For consumption provide professional knowledge, tools and financial products to meet their needs. Financial service platforms are included in Online financial supermarkets, digital insurance brokers, and digital lending, all of which are built on a strong alternative data base foundation. More than 2,000 personal financial products have been searched for more than 55 million users. Since 2015 Started business in Singapore at the beginning of the year, and currently operates in 7 markets: Hong Kong Special Administrative Region, India,Dunesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.

In April 2021, Finder, a financial technology company headquartered in Australia, announced that it has acquired South Asian brand GoBear, as part of its global expansion. The acquisition includes GoBear’s trademark and digital assets, covering domain names, website content and social channels in seven markets: Singapore, Hong Kong, Vietnam South, Thailand, Malaysia, Indonesia and the Philippines. According to the agreement, GoBear’s website content will be become part of Finder and its local services. At the same time, the GoBear brand will continue to operate the media and e-mail channels.

Comment: Did not escape the fate of the accounting software being acquired, but the logo is really cute, Finder may think that the most important thing is this logo.

Thanks for reading The Low Down (TLD), the blog by the team at Momentum Works. Got a different perspective or have a burning opinion to share? Let us know at [email protected].