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Bukugaji

bukugaji.com

Stage

Incubator/Accelerator - II | Alive

Total Raised

$1M

Last Raised

$1M | 1 yr ago

About Bukugaji

Bukugaji is a lightweight mobile platform that modernizes traditional human capital workflows for MSMEs.

Headquarters Location

Singapore

+62 21 80600635

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Latest Bukugaji News

Vara raises $4.8M from investors like Go Ventures and Sequoia India’s Surge to digitize Indonesian SMEs’ payrolls – TechCrunch

Jul 13, 2021

Workers administration platform Vara’s workforce For those who comply with startup information from Indonesia, you understand that the nation’s estimated 60 million small businesses are a scorching goal for tech firms. BukuKas and BukuWarung, for instance, each just lately raised massive rounds to gasoline their race to digitize SMEs’ operations. Based in November 2020, Vara is targeted particularly on making employees administration simpler for small companies and their employees, changing the notebooks or spreadsheets many relied on to maintain monitor of payroll with an app known as Bukugaji. The corporate introduced at this time it has raised $four.eight million in seed funding from Go Ventures, RTP International, AlphaJWC, Sequoia Capital India’s Surge, FEBE Ventures and Taurus Ventures. Based by Vidush Mahansaria and Abhinav Karale, who met whereas finding out on the Wharton Faculty on the College of Pennsylvania, Vara is a part of the Surge accelerator program’s fifth cohort of startups. It says greater than 100,000 small companies are already utilizing Bukugaji. The app has options to trace attendance, calculate salaries and employee loans and disburse payroll. Mahansaria instructed TechCrunch that Bukugaji is geared toward firms which have lower than 30 staff. Lots of them are in retail, meals and beverage or labor-heavy service sectors like development and transportation. Bukugaji has options for particular worker segments, like operational employees who often work in shifts, or everlasting employees whose paychecks are mounted over a particular time interval. “Earlier than downloading and onboarding on Bukugaji, the overwhelming majority of our customers utilized notebooks to mark attendance and monitor payroll,” Mahansaria stated. “A small portion used the notes options on their telephones or easy Excel sheets.” Bukugaji is designed to be totally self-service, so companies can obtain and begin utilizing the app on their very own. Its foremost app is cellular solely, however the platform additionally has an internet model. The companies Bukugaji serves typically have employees who’re unbanked, which means they don’t have entry to a checking account or conventional monetary providers. Vara’s founders say a lot of them dwell paycheck to paycheck and this implies they generally need to take out loans from their employers. “Workers typically request money advances from their employers towards the tip of the month, once they want the cash essentially the most as a result of generally they’ll’t make ends meet,” stated Mahansaria. “This has two outcomes: first, it ties up working capital for the employer. Second, it makes the worker more and more reliant on the employer to satisfy emergency wants. It’s onerous to interrupt out of this cycle given the present restricted accessibility to formal monetary infrastructure for this market section.” Earned wage entry (EWA) platforms are targeted on fixing this downside by giving staff on-demand entry to wages, as a substitute of getting to attend for his or her paycheck. EWA firms are gaining traction all over the world, together with Wagely and GajiGesa in Indonesia. Vara doesn’t have quick plans so as to add an EWA characteristic to Bukugaji, however it’s one thing the corporate is considering as a part of the value-additive providers it would construct into the platform. “Proudly owning end-to-end payroll and attendance provides us an info edge that’s unparalleled for this labor section,” Mahansaria stated, noting that the info can allow firms so as to add issues like advantages that their staff often don’t have entry to, and in flip give employees a digitally-verified work historical past. Within the close to future, Bukugaji will add time-saving options like automated allowances and additional time, dashboard shortcuts, reminders and customizable stories. It additionally plans to permit employers to disburse salaries immediately by way of the platform. Over the long run, Bukugaji will supply knowledge analytics to firms and their employees. For instance, staff will even be capable to see how their earnings have modified over time. Employers, in the meantime can spot traits in attendance and wage. Although Vara could finally increase into markets, Mahansaria stated it’s at the moment “razor-focused on Indonesia,” the place SMEs account for about 60% of the nation’s gross home product and make use of the overwhelming majority of its workforce.

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Bukugaji Frequently Asked Questions (FAQ)

  • What is Bukugaji's latest funding round?

    Bukugaji's latest funding round is Incubator/Accelerator - II.

  • How much did Bukugaji raise?

    Bukugaji raised a total of $1M.

  • Who are the investors of Bukugaji?

    Investors of Bukugaji include Surge and Lightspeed Extreme Entrepreneurs.

  • Who are Bukugaji's competitors?

    Competitors of Bukugaji include GajiGesa.

Compare Bukugaji to Competitors

Wagely Logo
Wagely

Wagely allows employees to get instant access to their earned wages, without making any changes to their processes or payroll.

GajiGesa Logo
GajiGesa

GajiGesa provides a financial wellness platform to help Indonesians manage their financials. The company offers products such as Earned Waged Access, Payroll Services, Employee Benefits, Financial Education, and Attendance. The company was founded in 2020 and is based in Jakarta, Indonesia.

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