JAKARTA -- Global investors are intensifying bets that the digitalization of Indonesia's mom-and-pop stores is the country's next big growth sector. BukuWarung, an Indonesian startup that provides services such as digital bookkeeping and enabling digital payments for warung -- the local equivalent of mom and pop stores -- said on Thursday it has raised $60 million in Series A funding from global investors. The infusion comes after direct rival BukuKas said in mid-May that it raised $50 million in a Series B funding round.
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