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§ Private Profile · Graha Binakarsa, Jl. HR Rasuna Said Kav. C-18 Karet Kuningan, Setiabudi Jakarta Selatan, DKI Jakarta 12940, ID
Southeast Asia's largest Open Finance API platform, enabling businesses to quickly launch and manage embedded financial services.
Based in Jakarta, Indonesia, Ayoconnect is an open finance API platform that provides infrastructure connecting financial institutions with consumer-facing technology companies to enable embedded financial services. Operating as a licensed payment service provider under Indonesia's central bank, the business-to-business software company generates revenue through API licensing and transaction fees for direct debit, recurring payments, and digital lending solutions. To date, the enterprise has raised approximately $47.85 million in total equity funding across multiple rounds and maintains a workforce of around 250 employees. Its technology infrastructure connects more than 1,000 financial institutions and serves over 200 corporate clients, including major regional platforms like Bank Mandiri, Bukalapak, and DANA. The company is backed by prominent institutional investors such as Tiger Global and PayU. Ayoconnect was founded in 2016 by Jakob Rost, Chiragh Kirpalani, and Adi Vora.
Ayoconnect has raised $47.0M across 6 funding rounds.
Ayoconnect has raised $47.0M in total across 6 funding rounds.
Ayoconnect has raised $47.0M across 6 funding rounds. Most recently, it raised $5.0M Series U in September 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Sep 1, 2025 | $5M Series U | — | Amazon Alexa Fund, Finch Capital, MDI Ventures | Announced |
| Oct 13, 2022 | $13M Series B Plus | Akshay Bajaj | CE Innovation Capital, Payu | Announced |
| Jan 31, 2022 | $15M Series B | Tiger Global | Jerry NG, William Hockey, Alto Partners, Payu | Announced |
| Aug 1, 2021 | $5M Series B | — | Amazon Alexa Fund | Announced |
| Aug 5, 2020 | $5M Series A Plus | BRI Ventures | AC Ventures, Amand Ventures, Finch Capital, Kakaku.com | Announced |
| Nov 1, 2017 | $4M Series A | — | MDI Ventures | Announced |
Ayoconnect has raised $47.0M in total across 6 funding rounds.
Ayoconnect's investors include Amazon Alexa Fund, Finch Capital, MDI Ventures, Akshay Bajaj, CE Innovation Capital, PayU, Tiger Global, Jerry Ng, William Hockey, Alto Partners, BRI Ventures, AC Ventures.
Ayoconnect is Southeast Asia's largest open finance API platform, founded in 2016 and headquartered in Jakarta, Indonesia. It provides full-stack API solutions enabling businesses—ranging from banks and fintechs to startups and tech unicorns—to quickly launch financial services like embedded finance, direct debit, recurring payments, bill payments, virtual card issuance, instant fund transfers, cash out, and data insights without building infrastructure from scratch[1][2][3][4][5]. Serving over 200 clients and processing more than 500 million API hits annually, Ayoconnect targets developers and companies in Indonesia and Southeast Asia, solving the problem of complex financial integrations by offering a vast catalog of over 4,000 white-label products with bank-grade security and seamless connectivity to financial institutions[1][3][4]. Its growth momentum is strong, evidenced by a transition from B2C (as Ayopop) to B2B, a 1000x increase in API hits, a $43 million total funding including a $13 million Series B extension in 2022, and partnerships bolstered by a central bank license[2][3][5].
Ayoconnect was established in 2016 in Jakarta Selatan, Indonesia, initially as Ayopop, a B2C-focused company that evolved into a B2B open finance powerhouse[2][5]. The founders leveraged Indonesia's booming digital economy—home to over 250 million expected internet users by 2025 and a young, tech-savvy population under 30—to address financial inclusion gaps through APIs[3][4]. Key pivotal moments include securing a license from Indonesia’s central bank (BI), which expanded service offerings; rapid client growth from 2 in 2019 to over 200 today; and strategic funding rounds, notably the oversubscribed Series B led by Tiger Global in early 2022 and a $13 million extension led by SIG Venture Capital later that year, bringing total capital to $43 million[3][5]. This funding supported infrastructure scaling amid high-volume API operations and partnerships with major banks and fintechs[3].
Ayoconnect rides the open finance and embedded finance wave in Southeast Asia, where digital natives demand seamless, fingertip-accessible services amid rapid internet penetration and economic growth[1][3][4]. Timing is ideal in Indonesia, the region's fastest-growing digital hub with a young population and underserved financial inclusion needs, enabling businesses to embed finance without heavy tech builds[3][4]. Market forces like fintech proliferation, neobanks, and e-commerce boom favor its model, as it powers 200+ clients including unicorns to integrate payments and data securely[3][4]. By building the "most complete open finance stack," Ayoconnect influences the ecosystem as critical infrastructure, accelerating financial services for lenders, wallets, and platforms while promoting inclusion across the region[2][3].
Ayoconnect is primed for expansion as Southeast Asia's open finance leader, leveraging its BI license, client base, and infrastructure to capture rising demand from banks and fintechs amid digitization[3][4]. Trends like AI-driven insights, cross-border payments, and deeper embedded finance integrations will shape its path, potentially driving API hits beyond current 500 million annually with Google Cloud scalability[4][5]. Its influence may evolve toward regional dominance, powering tomorrow's unicorns and transforming payments, much like it has quietly enabled rapid monetization for hundreds of businesses since its B2C-to-B2B pivot—positioning it as Indonesia's API backbone in a thriving digital economy[1][3][5].