Square peg backs an Indonesian B2B payments platform - Paper.id

Paper.id an Indonesian business-to-business (B2B)fintech company founded in 2016 by Yosia Sugialam and Jeremy Limman has raised an a Series B fundraising led by Square Peg after having already raised $12m to date.

Investors include 

• SMBC Asia Rising Fund, a corporate VC co-founded by the Sumitomo Mitsui Banking Corporation and 
• Incubate Fund, participated in the round.
• Argor Capital also re-upped in the latest round.
• Singapore VC firm Golden Gate Ventures
• Funding Societies, also called Modalku in Indonesia.
• Indonesian fintech firm Xendit, which became a unicorn in 2021 is also an investor 

What Paper.id does 

Paper.id is the go-to platform for business owners to manage and process their transactions efficiently and help users manage their cash flow. 

It simplifies invoice creation, automatic reconciliation, and precise document matching. It also provides access to various payment methods, including credit cards, offering extended terms for payers. 

To date, Paper.id has served over 600,000 clients, and is now  one of the largest B2B fintech payments in Indonesia, having processed $2 billion in annual payment volume in 2023 - with transactions growing  by more than 30 times compared to 2021.

Innovations include enabling cross-border payments, complemented by robust business verification capabilities, and will facilitate  installment payment by partnering with banks and fintech lenders.

See also 

https://www.techinasia.com/paperid-nabs-series-funding-30x-transaction-growth?utm_source=li&utm_medium=social&utm_campaign=news_article

https://pitchbook.com/profiles/company/234879-67#overview

https://www.squarepeg.vc/blog/investment-notes-paper-id-series-b#:~:text=Meet%20the%20team%20behind%20Paper,next%20phase%20of%20their%20journey.

Kinde - the next Unicorn?

Kind  is about being constantly curious, nimble, and experimental - and total focus on servicing both customers and all stakeholders - says Ross Chaldecott from Kinde !

 At Kinde, we have two core team focuses - alignment and autonomy.

We take it to the extreme - says Ross 

Weekly

“Every Friday we have an all hands where we openly take the team through everything that has happened in the week, followed by a QA session. This includes all financials and everything else that seems important for the team to know - completely candid and open

.

Monthly 

Monthly we send a shareholder update. Our team are all shareholders so this goes to them too. And quarterly, after our board meeting, we take them through the entire board deck and every bit of discussion that happened. 

To some this is heretical. 

To us it's critical.

Quarterly

It means that our team knows how we are doing. They know what is going well. And they know what is not going well.

It’s all about  Alignment.

A team that is highly aligned needs the space to make decisions.

Ownership 

 At Kinde, autonomy feeds off ownership. Every member of our team is an owner. They have equity in the company. They act like owners and think like owners. This is the same as treating them like adults. And it's incredible what happens when you give people the benefit of being treated like adults.

Never feel Failure 

On top of this, they never fear failure. Mistakes are a part of a high performance culture. A team too afraid to take risks will never achieve anything great. We hire well. Every one of our team members is incredibly smart and capable. After that we get out of the way and let them get on with it.

Trust

This takes a remarkable amount of trust. I think that's probably the real magic.

Kinde