Ayoconnect Completes USD 15 Million Funding Round

Ayoconnect, an Indonesia-based financial API platform, has raised US$15 million in a series B funding round led by Tiger Global, according to VentureCap Insights.

The new round boosts the company's valuation to around US$80 million.

Founded in 2016, Ayoconnect aggregates financial data from several sources and enables its partners to offer more inclusive financial services to users. It serves more than 100 clients, including Bank Rakyat Indonesia, Dana, Bukalapak, and Pegadaian.

The company was founded by former Lazada managing director Jakob Rost, along with Chiragh Kirpalani and Adi Vora, who previously held executive roles at Times Internet and OAB Studios, respectively.

Last year, Ayoconnect raised US$10 million in pre-series B funding from Mandiri Capital Indonesia and Patamar Capital, among others.

Source: Tech in Asia