Jeff Bezos, the founder of Amazon, has invested in Lummo, a SaaS firm
- ByStartupStory | February 17, 2022
Jeff Bezos, the creator of Amazon, has invested $80 million in Lummo, a software-as-a-service (SaaS) startup that, like Shopify, helps small businesses come online. Lummo was previously known as BukuKas and was based in Jakarta and Bengaluru.
Bezos Expedition, Bezos’ personal investment organisation, provided the additional cash, which comes a month after the company said it had secured $80 million in a funding round sponsored by Tiger Global and Sequoia Capital India.
According to a senior corporate executive, the fresh investment would help the firm develop its talent base in India, where everything plans to more than treble its tech and product personnel. In 2022, it would triple its investment in Indian talent across product, engineering, strategy, HR, and finance departments, according to the official.
Bezos’s investment in the Indonesian startup scene is his second.
Menon noted that the company’s gross merchandise value (GMV) doubled and sales increased by 40% in the prior quarter.
BukuKas, a bookkeeping software for small and medium enterprises, was founded in 2019. In 2020, the firm expanded by introducing Tokko, an online direct-to-consumer commerce builder. Tokko has subsequently been renamed LummoShop.
Follow Startup Story
Related Posts
