RACHMAT KAIMUDDIN

Company: Bukalapak

Title: CEO

 

Residing Country: Indonesia

Industry: Marketplace, Ecommerce

 

Muhammad Rachmat Kaimuddin is a seasoned leader with cross-field and industry background, including experience in engineering and financial management. He was awarded a Bachelor of Science from Massachusetts Institute of Technology Cambridge, MA, and Master of Business Administration from Stanford University, California, United States.  

Prior to joining Bukalapak, he served as Director of Finance and Planning for PT Bank Bukopin Tbk starting in 2018, and was a member of the Board of Commissioner for the same bank in 2014, up until his appointment as Director.  

Rachmat started his career as a Senior Associate at the Boston Consulting Group, and his other experiences include Managing Director of PT Cardig Air Services, Chief Financial Officer of PT Bosowa Corporindo, Managing Director of PT Semen Bosowa Maros, Vice President of Baring Private Equity Asia, and Principal of Quvat. 

 

The disruptive innovation.

 

Bukalapak currently has 100 million users and 7 million partners, and their 2021 focus will be on three areas—talent or human resources, business growth, and capital. On the business side, the company plans to increase the number of merchants, both C2C and B2C. In the B2C segment, Bukalapak saw a 17% monthly increase throughout 2020 via Bukamall, a platform that hosts official stores for brands. As of December 2020, Bukamall’s transactions grew 3.1-fold compared to 2020.  

One of its programs, Mitra Bukalapak, which provides incentives to MSMEs that digitalizes their commerce using Bukalapak’s services, also saw a 50% increment compared to last year. Additionally, Microsoft’s USD 100 million investment in Bukalapak in November 2020 will enable Bukalapak to leverage on Microsoft’s expertise in building a resilient cloud infrastructure to support Bukalapak’s services for more than 12 million MSMEs and 100 million customers. 

There was a significant increase in Bukalapak's gross merchandise value (GMV) during the 2018-2020 period — up by 200%. During that period, the company was able to achieve 80% EBITDA growth.  

Source: KrASIA