What happened with Bukuwarung? They just had a layoff

Just got insights from a friend who used to work there:

Bukuwarung first tried to be Khatabook. But they didn’t have enough insights because that data used to be trash. Secondly, Indonesia didn’t have payment fintech stack as good as india. So they kind of tried to become khatabook+Paytm combo. If they could crack this then they can become good at lending.

Lot of fraud happened on the payment front, they couldn’t control it, so they scaled down the payments front. And it’s difficult to raise a round in this scenario. So they’ve kind of started with the lay offs.