The Bunker client is claimed to have minimized a 10% of the operational expenditure during the first operations.
Heaptalk, Jakarta — Bunker, a Singapore-based analytics startup, announced its new achievement by seizing a seed funding round of US$5 million, or equal to Rp75 billion. Several strategic investors, spanning Alpha JWC Ventures, January Capital, Northstar Group, GFC, and Money Forward, backed this seed round. On the other hand, multiple angel investors were also involved in this investment, covering Chris Lin, Rosemary Hua, and Tiger Fang.
Through this new injection, the company aims to accelerate its business growth and develop its product to target other leading companies as its majority client while also increasing a fully-fledged go-to-market team.
The company views that the COVID-19 pandemic has positively impacted the financial analytics market due to increased volatility and uncertainty in business. This has also led to the widespread adoption of financial analytics software to assist companies in following financial decisions across multiple end-user verticals.
Moreover, based on Allied Market Research, the global financial analytics market is estimated to be worth US$7.6 billion in 2020. This market is projected to reach US$19.8 billion in 2030, with a CAGR growth of 10.3% from 2021 to 2023.
Founded in August 2021, Bunker’s startup establishment was initiated after acquiring Proyek Beta, a bookkeeping and tax service consultant, a subsidiary company called Bunker Books. Bunker’s solution is a cloud-based software application that plugs into the clients’ existing financial systems and enterprise resource planning platform.
“Finance leaders don’t necessarily understand accounting fundamentals, while accountants often don’t understand how to use those numbers to tell the business story. Therefore, they need quite technical data engineering expertise to build software that can help,” affirmed the Co-Founder and CEO of Bunker, Shivom Sinha.
Once the apps are active and running, the platform interrogates the business’s financial data to create dashboards and reports, and the strategic lenders can understand the conditions at a transactional level. They can also make bespoke requests to analyze particular issues or pain points. Bunker software can trace data by scanning thousands of transaction lines and other data often overlooked in company accounting data.
Perceiving an ongoing macroeconomic uncertainty, The Partner of Alpha JWC Ventures, Eko Kurniadi, delivered that the platform will have particular resonance for businesses trying to cope with financial volatility and upheaval.
He added, “This is the time to focus on a bottom-up approach and for businesses to have complete visibility and control over their finances. Bunker would be a pivotal tool for businesses to make those better and more informed decisions. The platform provides comprehensive financial snapshots effortlessly to help the team in devoting their time to tackle another matter,”
The Bunker client is claimed to have minimized a 10% of the operational expenditure during the first operations. This analytics startup has also begun pitching the software to medium-sized enterprises across the Asia Pacific region in the third quarter of last year and has signed up around 40 customers.
