Ayoconnect, a Jakarta-based FinTech enabler that provides financial APIs to enterprises across Indonesia, has secured new investment to strengthen its push towards profitability.
The funding round was led by Finch Capital, which has supported the company since 2017, with further backing from ION Pacific. The financing attracted strong interest, with multiple competing term sheets submitted by existing shareholders.
Ayoconnect is recognised as one of Indonesia’s leading financial technology providers, helping large enterprises integrate payments and banking services into their platforms. The company offers tools for recurring payments, digital products, virtual cards, instant transfers and more.
According to the firm, the fresh capital will provide the final push towards achieving breakeven.
Ayoconnect CEO Chiragh Kirpalani said, “From day one, our focus has been on building a sustainable business with profitability in sight. This funding gives us the final push to get there. We remain committed to the highest standards of transparency and governance, and we welcome any process that strengthens investor trust.”
Finch Capital partner and Ayoconnect board member Radboud Vlaar said, “We believe in Ayoconnect’s management and their ability to execute on a clear path to profitability. Investor interest has been strong, and we are proud to continue supporting the company in this next chapter, just as we did in 2017.”
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