Financial analytics platform Bunker raises over US$5 million in pre-seed, seed funding

SINGAPORE-BASED financial analytics platform Bunker has raised over US$5 million in pre-seed and seed funding, it said on Tuesday (Jul 25).

Its investors include Alpha JWC, Northstar Group, January Capital, GFC, Money Forward, Alpine Ventures, Patamar Capital and nine angel investors.

The startup plans to use the funds for product development and to grow its team.

Bunker said its platform allows users to spot vendor-specific costs and negotiation opportunities for terms of payment. The platform went live in the third quarter of 2021, and Bunker was formally incorporated on Aug 10, 2021.

It also integrates with business software such as Xero, NetSuite, QuickBooks, Jurnal, Accurate and SAP. The solution came about following the early acquisition of Proyek Beta, a bookkeeping and tax services consultancy.

Proyek Beta is now a subsidiary called Bunker Books, Bunker said, whose customer base includes clients in Singapore, Indonesia, the Philippines and Hong Kong.

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Shivom Sinha, co-founder and chief executive of Bunker, was a former finance strategist of Uber, Gojek and Kargo Technologies.