Olsera, an Indonesian cloud-based Point of Sales (POS) startup, said Friday it has raised $2.5 million in seed round funding from Kejora-SBI Orbit, a joint venture capital fund helmed by Kejora Capital and Japanese conglomerate SBI Holdings.

With this fresh capital, Olsera seeks to strengthen its technological infrastructure, recruit more talents and accelerate their merchant acquisition in another 200 cities in Indonesia, Olsera said in a statement.

“As the largest contributor to our country’s economy, MSMEs deserve a lot of attention to survive and thrive through the pandemic and beyond. We aim to back Olsera and its founders who are committed to forward their vision in stimulating the nation’s digital economy growth,” said Billy Boen, Fund Director of Kejora-SBI Orbit.

Olsera claimed it has helped over 10,000+ micro, small and medium enterprises (MSMEs) across 300 cities in Indonesia digitize their business at scale.

Cited data from Indonesia’s Ministry of Cooperatives and Small and Medium Enterprises (Kemenkop UKM), Olsera said that that 64.2 million MSMEs have contributed 61 percent to the Indonesia’s economy, amounting to IDR8.5 trillion ($592.17 million) in nominal value.

It also said that the Indonesian government has set an ambitious target to onboard over 30 million MSMEs into the digital economy ecosystem by 2024.

Per September 2021, the Indonesian E-Commerce Association (idEA) has found that over 16.4 million (54.7 percent) of said MSMEs have successfully been digitally enabled, where, throughout the COVID-19 pandemic, the country has seen over 2 times in the rate at which these MSMEs have gone digital.

“As fellow entrepreneurs, we truly understand how challenging it is to grow and sustain a business, including the complications that come in our way. Since 2015, Olsera has been committed to support entrepreneurs grow and manage their businesses in a simple manner through technology.” said Novendy Chen, Co-Founder and Chief Executive Officer of Olsera.

As a POS, Olsera not only records transactions, but also provides enterprise resource planning (ERP) features that business owners find very useful, allowing them to control across departments from anywhere and anytime, including accounting, inventory management, promotions, employee management, and customer service.

“During the pandemic, we saw that quite a number of MSME business partners were affected because the shops were still offline. We launched Olsera Store so that businesses can pivot their offline stores to online. On the other hand, MSMEs in services sector also suffered lost as social distancing is taken place.

“We also need to digitalize their business, thus we developed Zenwel. Specifically designed for the needs of services MSMEs, Zenwel provides great features such as calendar scheduling, online booking, customer relationship management (CRM), and loyalty/membership programs to improve their customer acquisition and retention,” said Ali Tjin, Co-Founder and Chief Technology Officer of Olsera.

Olsera itself also continues to be bullish in growing its partnership base, one of which is access to integration with e-commerce platforms such as Tokopedia, Lazada, Shopee, Blibli, and more to allow businesses to view their business’ performance in each store and platform, but also aggregate all their business traction in one aggregated view, providing a holistic snapshot of their businesses.

Tech-enabling Indonesia’s 63M MSMEs, the engine of growth for the post-pandemic recovery