OnlinePajak Founder Charles Guinot said that the new funding will be used for “improve and strengthen” their technology

Online Pajak Founder Charles Guinot

Alpha JWC Ventures Co-Founder and Managing Partner Chandra Tjan has confirmed an earlier report of a Series A funding round for Jakarta-based tax collection platform OnlinePajak.

Reported by Dealstreet Asia to value between US$3-5 million, Sequoia Capital also participated in the funding round.

OnlinePajak Founder Charles Guinot said that the new funding will be used for “improve and strengthen” their technology.

Launched in July 2015, Online Pajak is a product of Achilles Advance Systems. It is a one-stop platform for companies to perform taxation-related tasks such as calculation, filing report, to payment.

It serves as an alternative to the government-owned e-SPT platform.

Though the startup mainly targets small- and medium-sized enterprises (SMEs), it has secured unicorns such as Tokopedia and Go-Jek, manufacturing giants such Astra and Huawei, and state-owned mobile operator Telkomsel as clients.

Also Read: Alpha JWC Ventures closes US$50M first fund, preparing to raise next fund

Prior to the funding round, the startup was run through bootstrapping.

In a past interview with e27, Guinot mentioned that the startup was looking for an investor. However, he also stated that there are some “specific criteria” that they need to fulfill.

“We are always open to fundraising, but it needs to be [through] people who will no be telling us, ‘You cannot work with this people.’ We are building a tax system for the whole nation, so it needs to be for the whole nation,” he said.

“I will be approaching more real, professional, working venture capitalist. I think what we are lacking is professionals who are used to doing startups, who can force them to get the right KPI, the right matrix … This guy would actually bring a great value. Again, it needs to be VCs that are not linked to anyone,” he added.

The Indonesian government has been making effort to increase tax revenue; partnership with local tech startups is one of the ways that they are using to achieve it.

On Tuesday, Go-Jek CEO Nadiem Makarim attended a meeting at the Ministry of Finance to discuss how the startup can get involved in the effort.

Playing the role of an app service provider, Go-Jek will serve as a tax agent that will enable users to register for taxpayers ID number and file annual tax report. It remains unclear whether Go-Jek will release a new app especially dedicated for the purpose, or whether the feature will be included in the current Go-Jek app.

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Image Credit: OnlinePajak

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