Stealthy, stealthy! Indonesian e-commerce startup, Bukalapak has expanded to the Philippines — and most people don't know.

• They launched their Mitra Bukalapak app in the Philippines in July under the name SmartSari.

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❓ What is it

Mitra Bukalapak, their O2O offering, allows micro and small shops (aka, "warungs" or "sari-sari stores") to go digital and earn more through tools and offerings.

• Right now, SmartSari only offers a few products, like affordable mobile and game credits.
• They'll soon offer services like dropshipping, bill payment, ATM withdrawal, courier services and more!

Mitra Bukalapak is also Bukalapak's largest revenue driver right now. So, taking it to the Philippines should bring them even more $$$!

• Mitra Bukalapak's 3Q22 revenues increased by 131% YoY to 477B IDR ($30M), while their 2022 revenues climbed 191% YoY to 1,446B IDR ($94M).

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👀 Competition?

Mitra Buakalapak's closest competitor is local Philippine startup, Growsari.

• Homegrown champ. Growsari raised a $77.5M Series C led by KKR in March.