- Indonesian invoicing platform Paper.id secured Series B funding.
- The round was led by Australian VC Square Peg.
- Paper.id saw 30x transaction value growth in 2023 vs 2021.
Indonesian invoicing platform Paper.id announced an undisclosed Series B funding round led by Australian VC firm Square Peg.
Existing investor Argor Capital and newcomer SMBC Asia Rising Fund also joined the investment.
Growth spurt on steroids
This funding follows a staggering 30x surge in transaction value processed by Paper.id in 2023 compared to 2021.
Serving over 600,000 SMEs across various Indonesian industries, the platform’s AI and machine learning solutions have streamlined B2B payments.
Uncharted waters ahead
CEO and co-founder Yosia Sugialam highlighted plans to broaden market reach and enable cross-border payments.
Clients like logistics giant J&T Cargo, handling over 5,000 invoices monthly via Paper.id, exemplify the platform’s impact.
The strategic investment from SMBC Asia Rising Fund opens doors for collaborative opportunities.
To read the original article: https://www.techinasia.com/paperid-nabs-series-funding-30x-transaction-growth
