# PT Achilles Advanced Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pt-achilles-advanced-systems

- Industry: Internet
- Headquarters: Jakarta, Indonesia
- Website: www.online-pajak.com
- Total disclosed funding: $46M
- Latest round: Series C (Nov 8, 2021)
- Investors on record: 9

## About

PT Achilles Advanced Systems, through its platform OnlinePajak, specializes in automating business transactions, tax compliance, and payment processes, enhancing operational efficiency for businesses in Indonesia and beyond.Founded in 2014 by Charles Guinot, PT Achilles Advanced Systems operates from Jakarta, Indonesia. The company focuses on automating tax compliance and payment processes and has raised a total of USD 5.00 mn through 4 deals, with the latest Series C funding round occurring on November 10, 2021, led by Visa Inc. This funding increased the company's valuation to USD 166.00 mn.OnlinePajak offers a comprehensive suite of solutions designed to automate business transactions, tax compliance, and payment processes. Their core product includes an end-to-end automation system that addresses accounts receivable, accounts payable, and compliance requirements without the necessity for coding. By integrating technology throughout the entire value chain, OnlinePajak enhances operational efficiency and transparency for businesses, allowing for seamless reconciliations and credit management with features like advanced tables for data visibility. Their solutions cater to various sectors, including e-commerce, logistics, and financial services, serving clients across Indonesia and potentially expanding to other Southeast Asian markets. The platform also acts as an official partner of the Directorate General of Taxes (DJP) in Indonesia, providing them with a licensed framework to facilitate user transactions securely.The revenue model of OnlinePajak is structured around subscription-based services, allowing businesses to access a range of automated solutions tailored to their needs. Clients typically engage with the platform for services such as invoice management, tax payments, and compliance reporting, processing transactions directly through the OnlinePajak interface. The company supports various tax types, including PPN, PPh 21, and more, ensuring that users can handle all aspects of their tax obligations in one place. With a focus on operational efficiency, businesses leverage OnlinePajak's solutions to streamline their financial processes, thereby optimizing cash flow and ensuring timely payments to suppliers and tax authorities. Specific pricing plans are associated with each service offering, ensuring clarity and predictability in cost for users who rely on these essential functions for their business operations.In November 2021, PT Achilles Advanced Systems raised USD 5.00 mn in Series C funding, which will support the company's strategy to introduce new products focused on enhancing their platform's capabilities. The company is also planning to expand into additional Southeast Asian markets to broaden its client base and improve service offerings. The recent funding will be utilized to further develop these new products and enhance market penetration.

## Funding rounds

- Series C, Nov 8, 2021, $17M — Warburg Pincus, Altos Ventures, Visa Inc., Tencent Holdings Limited
- Series B, Dec 3, 2019, $26M — Hong Shan, Warburg Pincus, Endeavor Catalyst, Alpha JWC Ventures, Global Innovation Fund, Primedge
- Series A, Jan 11, 2018, $3.2M — Hong Shan, Alpha JWC Ventures, Primedge

## Investors

- Hong Shan — Series A, Series B
- Alpha JWC Ventures (https://capitalatlas.ai/funds/alpha-jwc-ventures) — Series A, Series B
- Primedge — Series A, Series B
- Warburg Pincus (https://capitalatlas.ai/funds/warburg-pincus) — Series B, Series C
- Endeavor Catalyst (https://capitalatlas.ai/funds/endeavor-catalyst) — Series B
- Global Innovation Fund (https://capitalatlas.ai/funds/global-innovation-fund) — Series B
- Altos Ventures (https://capitalatlas.ai/funds/altos-ventures) — Series C
- Visa Inc. — Series C
- Tencent Holdings Limited — Series C