<article>Jurnal, which provides cloud-based accounting software to SMEs, has received seed funding of an undisclosed amount from Indonesian VC firm East Ventures.</article>

Jurnal, which provides cloud-based accounting software to SMEs, has received seed funding of an undisclosed amount from Indonesian VC firm East Ventures.
<a style="color: #000080;" href="https://www.jurnal.id/id" target="_blank">Jurnal</a>, an Indonesian startup venture, which provides cloud-based accounting software as a service (SaaS) for small to medium-sized businesses (SMBs), announced the receipt of an undisclosed amount of seed funding from venture capital firm <a style="color: #000080;" href="http://east.vc/" target="_blank">East Ventures</a>. The funds will go towards talent acquisitions and further product development
<a style="color: #000080;" href="id.linkedin.com/pub/daniel-witono/5a/153/26a/en" target="_blank">Daniel Witono</a>, Jurnal&#8217;s CEO and co-founder, claims that Jurnal simplifies and expedites the bookkeeping process, generating reports instantly, unlike competing products.
Witono explained: “We are awesome because we serve two parties, the businesses and the accountants. We provide easy collaboration between accountants and business owners through a shared ledger.&#8221;
Witono’s background is in computer engineering, as well as prior professional experience with Microsoft and Indonesian e-payments company <a style="color: #000080;" href="https://www.veritrans.co.id/" target="_blank">Veritrans</a>, provided a strong basis for his insights into the bookkeeping and financial processes involved in business administration. Co-founder <a style="color: #000080;" href="au.linkedin.com/pub/anthony-kosasih/99/327/35a/en" target="_blank">Anthony Kosasih</a> has similar expertise, combined with extensive accounting experience.
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Kosasih&#8217;s experience with bookkeeping solutions during his academic days, when he operated a small business, persuaded him that existing solutions were both costly and inconvenient to SMBs. Over time, he realised this was a chronic problem in other business sectors.
Commenting on the investment, Willson Cuaca, managing partner of East Ventures, said: “With its technology, Jurnal will help and accelerate Indonesian SMBs to a new level of efficiency. Daniel and Anthony have shown a strong passion and commitment to make it happen.&#8221;
Launched in January, its beta version has been serving 20 different businesses, including local traders, importers, restaurants and online stores, with approximately 100 registered users.
Witono says Jurnal measures user activity based on the number of actions “logged within a specific period of time&#8221; and competes with similar products made by <a style="color: #000080;" href="http://cpssoft.com/" target="_blank">CPSSoft</a>.
According to Witono, the difference is that other products are desktop-based, often requiring a high initial investment on the part of purchasers, unlike clod-based solutions. Another differentiation is Jurnal&#8217;s lack of high upfront costs and maintenance fees.
While currently free to use, Jurnal plans to incorporate a subscription business model, with prices starting at Rp 150,000 (US$11.50) per month.
Both Witono and Kosasih have projected a customer base at least 5000 by the end of 2015, noting that business owners often require a current snapshot of their business, but lack the time and/or capability to prepare the reports.
Jurnal provides an affordable, outsourced accounting tool that facilitates them in this regard.
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Jurnal, which provides cloud-based accounting software to SMEs, has received seed funding of an undisclosed amount from Indonesian VC firm East Ventures.


Indonesia-based Jurnal receives undisclosed seed funding from East Ventures

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Indonesia-based Jurnal receives undisclosed seed funding from East Ventures

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