Olsera, a cloud-based point of sales (POS) startup that helps Indonesian startups to go digital, has received US$2.5 million in seed funding from Kejora-SBI Orbit, a joint US$30-million fund run by Kejora Capital and Japan’s SBI Holdings.
With this new money, Olsera looks to strengthen its technological infrastructure, recruit more talents and accelerate its merchant acquisition in 200 new cities in the archipelago.
Business owners in Indonesia face limitations in capital, internet access, and sales distribution channels on top of the need to grow their know-how to adopt and utilise their digital platforms effectively.
As a POS, Olsera helps MSMEs go digital. It records transactions and provides ERP features that allow them to control across departments from anywhere and anytime, including accounting, inventory management, promotions, employee management, and customer service.
The company claims to have helped over 10,000 MSMEs across 300 cities in Indonesia digitise their businesses.
Olsera looks to grow its partnership base and integrate with e-commerce platforms, such as Tokopedia, Lazada, Shopee, and Blibli, to allow businesses to view their business performance in each store and platform.
Data from Indonesia’s Ministry of Cooperatives and Small and Medium Enterprises shows that 64.2 million MSMEs have contributed 61 per cent to the nation’s economy, amounting to IDR 8.5 trillion in nominal value.
The government has set an ambitious target to onboard over 30 million MSMEs into the digital economy ecosystem by 2024.
“During the pandemic, we saw that quite a many MSME business partners were affected because the shops were still offline. We launched Olsera Store to pivot their offline stores to online,” said Ali Tjin, Co-Founder and CTO of Olsera.
“On the other hand, MSMEs in the services sector also suffered loss as social distancing occurred. We also need to digitalise their business. Thus we developed Zenwel. Specifically designed for the needs of services MSMEs, Zenwel provides great features such as calendar scheduling, online booking, CRM, and loyalty/membership programmes to improve their customer acquisition and retention,” he added.
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Image Credit: Olsera
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