Sequoia India-backed Lummo said to be weighing shutdown, to return over $70m to investors

Indonesian bookkeeping startup Lummo, previously known as BukuKas, may close shop and return over $70 million of the funding it has raised to investors, multiple sources aware of the development told DealStreetAsia.

The company, backed by Sequoia Capital India and Bezos Expedition, has raised nearly $127 million in funding so far and is valued at over $500 million, according to DealStreetAsia – DATA VANTAGE.