Adrini Widya

Brand and Communication Executive

Bina Nandini

Indonesia

India

Startups

Fin Tech

Ayoconnect

Instantly offer bill payments feature to your customers.

Digital Products API

Access millions of online and offline payment points across Indonesia


Payment Point API

Enabling automatic recurring bill payments for banks and e-commerce

Autobilling

Build and verify your customers' profile from their payment behavior in multiple channels

Indicator by Ayoconnect

Bill Payment Solution for Property Managers and Education Institutions

Smartpay

Bulk Transaction

Match transaction across systems seamlessly

AutoRecon

Series B

<ul>
 <li>New investors in Ayoconnect include Mandiri Capital Indonesia - the corporate venture arm of Bank Mandiri, Patamar Capital - Southeast Asia’s leading impact venture capital, as well as several high profile individuals</li>
 <li>As Indonesia’s leading financial API platform, Ayoconnect is leading the charge to democratize open finance for Indonesia. Through its APIs, Ayoconnect’s partners can cater better, more inclusive financial services for millions of Indonesians</li>
 <li>In less than 24 months, Ayoconnect’s APIs are widely used by a set of diversified clients including leading banks, retailers, e-commerce firms, fintechs and e-wallets to better serve their users. These include Bank BRI, Bank Mandiri, Permata Bank, DANA, Gopay, LinkAja, Shopee, Bukalapak, Lazada, Blibli and Akulaku</li>
 <li>Fresh funding helps Ayoconnect to drive growth, recruitment and product development - particularly around building Indonesia’s API ecosystem</li>
 <li>Despite the pandemic, Ayoconnect recorded 10 times annual revenue growth in Q2 2021, surpassing 50+ million transactions. The company has also announced partnerships with several leading Indonesian banks to fast track their efforts towards Open Finance</li>
</ul>
Ayoconnect, Indonesia’s leading financial API platform has successfully closed its US$10 million Pre-Series B funding round from strategic investors. Pre-Series B funding allows Ayoconnect to continue to focus on growth, recruitment and product development - particularly in building the API economy in Indonesia with full stack API solutions (Financial APIs, Bill APIs, Open Finance APIs, and Insights APIs).
 
New investors in Ayoconnect include Mandiri Capital Indonesia - the corporate venture arm of the country's largest financial institution - Bank Mandiri, Patamar Capital - Southeast Asia’s leading impact venture capital that invests in companies serving the “mass market” in South and Southeast Asia. Several high profile individual strategic investors also participated in Ayoconnect’s pre-Series B raise including Mr. Ilham Akbar Habibie (an Indonesian technopreneur &amp; Ayoconnect’s strategic advisor), Paul Bernard (ex-Managing Director at Goldman Sachs), Jeff Lin (iGlobe Partners) as well as additional high-profile individuals from leading financial institutions. Ayoconnect will continue to benefit from a wealth of expertise and experience from its investors, enabling it to broaden partnerships in the public and private sectors within the financial industry.
 
APIs (Application Programming Interface) are software intermediaries which allow two applications or institutions to talk to each other. In this case, Ayoconnect aggregates financial data from several data points, allowing its close partners to cater better, more inclusive financial services for millions of Indonesians. This is crucial in driving access to financial products in Indonesia, the world’s fourth-largest country by the population where a large segment of its population remains underserved.
 
<blockquote>“We are delighted to have the support of our new and existing investors. Uniquely, Ayoconnect is one among very few companies in Indonesia that received investment from Indonesia's two largest banks -- Bank Mandiri and Bank BRI. Having gained the trust out of both is definitely a huge boost in our effort to build the infrastructure layer that enables interoperability for Indonesian companies, such as financial institutions, fintechs and startups. Through APIs, Ayoconnect will continue to contribute to the government's target to have 90% of financial inclusion by 2024,” said Jakob Rost, Co-Founder &amp; CEO of Ayoconnect.</blockquote>
Ayoconnect was co-founded by Jakob, along with Chiragh Kirpalani (Co-founder &amp; COO) and Adi Vora (Co-founder &amp; CTO) to build APIs around bills and digital products. Within a short time, the company has swiftly evolved into a full stack API provider - to build Financial Data APIs and Open Finance capabilities. Through this, Ayoconnect now serves as the go-to financial solution for banking and financial institutions, e-wallets and e-commerce businesses to drive their growth with ready-to-use solutions for their embedded finance. It allows them to better serve their customers in a swift and efficient way. The company now has over 100+ clients, including Bank BRI, Bank Mandiri, DANA, Indomaret, Bukalapak, Home Credit, Pegadaian and connects more than 1,000 institutions through its network of APIs.
 
<blockquote>Eddi Danusaputro, CEO of Mandiri Capital Indonesia sees this partnership opportunity as beneficial for both parties to grow the Open Finance and Open Banking sector in Indonesia: “We are delighted to partner with Ayoconnect as we have the same solid ambitions and vision to grow the Open Banking sector. The vision of Ayoconnect in democratizing Open Finance for Indonesia, has convinced us to go with the investment, seeing that Ayoconnect possesses the longest experience in building APIs, has established a remarkable client list, and are best positioned in their approach of entering the Open Banking business,” said Eddi.</blockquote>
<blockquote>Dondi Hananto, Partner at Patamar Capital is excited to work together with Ayoconnect to build Indonesia’s API ecosystem: “Ayoconnect is at the forefront of transforming Indonesia’s financial infrastructure, embedding financial services and therefore democratizing access for the underbanked and unbanked population. We are excited to partner with Ayoconnect’s team and look forward to driving this innovation and accelerating financial inclusion in Indonesia,” explained Dondi.</blockquote>
Established in 2016, Ayoconnect has established itself as an API powerhouse in Indonesia. Despite the pandemic, the company managed to accelerate digitalization across multiple verticals, including the Indonesian finance industry. Ayoconnect recorded 10 times annual revenue growth in Q2 2021. To support its continued growth, the company is already seeing strong interest from investors for its planned Series B fundraise and has started engaging in early discussions.
 
About Ayoconnect
Ayoconnect is Indonesia's largest API platform. It enables developers to choose from a wide range of financial white-label products on Ayoconnect’s API platform and quickly launch them to their users. Ayoconnect remains in the background, focused on building and operating the necessary infrastructure while allowing their clients to monetize and expand their business in a fast and massive way.
 
Founded in 2016, Ayoconnect’s API stack has seen rapid adoption. It is trusted by more than 100+ Indonesian companies as clients, including leading banks, retailers, e-commerce, fintechs, and e-wallets such as Bank BRI, Bank Mandiri, DANA, Indomaret, Bukalapak, Home Credit, Pegadaian and connects more than 1,000 institutions through its network of APIs. Ayoconnect’s APIs process more than 300 million API hits annually.
 
Ayoconnect has raised a total of US$15 million from leading local and international institutional investors. Ayoconnect's investors include Mandiri Capital Indonesia, Bank Mandiri’s corporate venture capital unit; BRI Ventures, Bank BRI's corporate venture capital unit; &nbsp;Indonesia’s AC Ventures, headed by Chairman of the Indonesian Fintech Association Pandu Sjahrir; Patamar Capital, Southeast Asia’s leading impact venture capital; Kakaku, a public company listed on the Tokyo Exchange (TYO); and Finch Capital among others. Ayoconnect continues expanding its ecosystem to accelerate financial inclusion and adoption of embedded finance throughout Indonesia.
 
About Mandiri Capital Indonesia
Mandiri Capital Indonesia (MCI) invests in people – the tenacious, bold, and extraordinary founders with breakthrough ideas that reinvent how the industry operates in the long run. Operating under Indonesia’s largest financial institution: Bank Mandiri, MCI focuses on financial technology (fintech) and micro, small and medium enterprise (MSME) enabler companies because it’s where it sees having the most impact.&nbsp;
 
MCI’s purpose is to help scale meaningful fintech and MSME enabler companies by synergising with Bank Mandiri’s extensive financial expertise, coupled with access to a vast network of merchants and customers.
MCI aims to connect people through real conversation, resulting in new ideas and applicable solutions needed to keep growing and getting better. MCI strategically provides solid support across its entire portfolio and gives them competitive edge, including capital investment, know-how, expertise, network, market reach and inclusive incubator program.
 
About Patamar Capital
Patamar Capital is Southeast Asia’s leading impact venture capital focused on the mass market segment, with more than $100 million of assets under management. Patamar has invested in over 30 portfolio companies who have collectively improved 5 million lives through an increase in income, savings or access to life-enhancing products and services.
 
South and Southeast Asia account for one-third of the world’s population, yet receive only 7% of global venture capital investment. The population growth in these regions is 2x that of advanced economies, the regions are more densely populated, and younger. Patamar Capital’s portfolio companies will capture the mass market consumers and the emerging middle class in South and Southeast Asia.
 
Patamar Capital invests in tech-enabled companies and platforms, serving (1) “Mass Market” consumers 1.6 billion low and middle-income consumers in developing Asia and (2) Small and medium enterprises (”SMEs”) that make up the majority of current economic activity and future growth in emerging Asian markets.

Ayoconnect Raises US$10 Million in Pre-Series B Funding - Expands Into Open Finance

Ayoconnect is the only Indonesian fintech startup to be shortlisted for Accenture’s 2021 FinTech Innovation Lab Asia-Pacific.
 
SINGAPORE and HONG KONG; Sept. 2, 2021 – Accenture (NYSE: ACN) today announced the 11 leading fintech companies that have been selected for the <a href="https://www.fintechinnovationlab.com/regions/asia-pacific/" rel="noopener noreferrer" target="_blank">2021 FinTech Innovation Lab Asia Pacific</a>, held in collaboration with Hong Kong <a href="https://www.cyberport.hk/en" rel="noopener noreferrer" target="_blank">Cyberport</a>. The companies were welcomed today at the welcome reception, which featured remarks by guest of honor Christopher Hui, Secretary for Financial Services and the Treasury, Hong Kong Special Administrative Region, as well as a fireside chat with Nelson Chow, chief fintech officer, Fintech Facilitation Office, Hong Kong Monetary Authority (HKMA).
 
A premier global accelerator program created by Accenture, the Lab is a 12-week program that provides fintech startups with mentorship from leading financial institutions to help them fine-tune and scale their businesses. The Lab has received more than 1,350 applications since it was launched in 2014; its 59 alumni companies have raised more than US$716 million in venture financing.
 
This year’s program received submissions from 28 countries. Applicants were invited to share solutions that address key topics in financial services, including supporting digital currencies, managing environmental, social, and governance (ESG) standards and risks, improving client engagement and growing wealth management and insurance services in Asia Pacific.
 
Ayoconnect, Indonesia's leading financial API platform, is the only Indonesian startup to be shortlisted in this year's cohort. Along with 10 other startups hailing from six markets, Ayoconnect will be partnered with senior executives from participating financial institutions including AIA; Bank of America; China Construction Bank (Asia); Credit Suisse; Generali; Hang Seng Bank; HSBC; ICBC (Asia); J.P. Morgan; Macquarie Group; Malayan Banking Berhad; Manulife; Morgan Stanley; Mox Bank; QBE; Societe Generale; Sun Life and Zurich Insurance Company Ltd.
<blockquote>“As the Asia Pacific region accelerates its adoption of fintech solutions, we remain committed to developing a healthy and thriving ecosystem for startups and financial institutions,” said Fergus Gordon, a managing director at Accenture who leads its Banking industry practice in Asia Pacific, Latin America, Africa and the Middle East. “The region is fertile ground for growth and innovation in the financial services industry. The Lab will provide a platform for startups and participating financial institutions to come together and explore a viable way forward to accelerate the advancement of the sector in the region.”</blockquote>
The 2021 Lab formally kicks off this week, giving startups access to Accenture’s global ecosystem and partners. This year’s Lab also features an enhanced partnership with Hong Kong Cyberport, providing these startups with the opportunity to participate in the Cyberport Incubation Program (CIP). The two-year program will provide selected startups with a range of business, professional and mentorship support.
 
Peter Yan, Cyberport’s CEO, said: “As Hong Kong’s leading fintech hub, Cyberport is delighted to collaborate with Accenture once again in organizing the FinTech Innovation Lab Asia Pacific. The most outstanding fintech start-ups across the globe will be gathered under this program and we will maximize their potential through comprehensive training with the full support of renowned financial institutions. I am glad to see that five Hong Kong start-ups have been selected this year despite the keen competition. It is a testament to the excellent capabilities and innovation of our start-ups grown in Hong Kong’s vibrant fintech ecosystem. I also encourage other selected start-ups to capitalize on Hong Kong’s position as a springboard to expand their businesses to the Guangdong-Hong Kong-Macao Greater Bay Area and ASEAN markets, in which Cyberport can be their home in Hong Kong.”
 
The program will culminate in November, when the participants will present their solutions at a virtual Demo Day to an audience of venture capitalists and financial industry executives.
 
<h3>Endorsing Company Quotes</h3>
<blockquote>“Virtual banking offers a path for the fintech sector to develop. As one of Hong Kong’s leading virtual banks, there’s so much we can share from our experience. We are happy to be part of the fintech community and work with the FinTech Innovation Lab.” - Deniz Güven, CEO, Mox Bank Limited</blockquote>
<blockquote>“A vibrant fintech community is essential for us to have a healthy, innovative financial services industry. As one of the world’s largest banks, we have an opportunity to share experience, insight and coaching to support the great ideas and innovations the FinTech Innovation Lab program brings, with clever people building out their creative ideas.” - Richard Lord, Chief Information Officer, Wholesale – Asia Pacific, HSBC Bank PLC</blockquote>
<blockquote>The FinTech Innovation Lab is an excellent opportunity for J.P. Morgan to engage with fintechs in the Asia Pacific region, to learn first-hand how emerging technologies have the potential to transform the way we do business. Banks and emerging tech companies are increasingly working together and this trend is likely going to continue. &nbsp;Through the FinTech Innovation Lab, the start-ups will also have the opportunity to gain insights into some of the current and future challenges faced by financial institutions.” - Harshika Patel, Head of Strategy for Asia Pacific, J.P. Morgan</blockquote>
This article was first published in <a href="https://newsroom.accenture.in/indian/news/11-startups-selected-for-accentures-2021-fintech-innovation-lab-asia-pacific.htm" rel="noopener noreferrer" target="_blank">Accenture's Newsroom</a>.

Ayoconnect has been shortlisted as a finalist of Accenture's FILAP 2021 Cohort

Indonesia’s financial industry is in the midst of rapid digitalization. Digitalization of financial services has the potential of improving Indonesia's financial inclusion among the majority of Indonesia's unbanked and underbanked population. To achieve this, banks and fintech need to collaborate closely with one another and grow the ecosystem together.
 
Ayoconnect’s CEO and Founder Jakob Rost along with MNC Bank’s COO Teddy Tee, BRI Agroniaga’s Chief of Digital Banking Bhimo Wikan Hantoro, and Jenius BTPN’s Head of Digital Banking Irwan Tisnabudi shared a stage on the second day of Wild Digital Indonesia to have a discussion on the future of Indonesia’s digital bank ecosystem.
 
"The rapid growth of digital transformation in Indonesia happened because banks and fintech are growing at the same time with customers' financial literacy across all socio-demographic profiles. Moving forward, I believe that more underbanked societies and state-owned enterprises will continue to seek solutions that could fulfill their demand,” &nbsp;said Bhimo Wikan Hantoro, BRI Agroniaga’s Chief of Digital Banking.
 
"The emergence of fintech creates a new payment ecosystem. It triggers traditional banks to quickly realize that people nowadays don't need banks; they need banking. That being said, I believe that collaborations between banks and fintechs are more important than ever. Building a digital bank is not an easy journey, so I believe the collaborative trend will result in solutions designed to solve the right cases and particular needs,” added &nbsp;Irwan Tisnabudi, Jenius BTPN’s Head of Digital Banking.
 
MNC Bank’s COO Teddy Tee particularly highlights the momentum of collaboration between the stakeholders. "Digital banking provides an opportunity for you serve to your customers better. The next challenge would be how to hyperspeed this transformation by improving financial inclusion in Indonesia. Banks, fintechs, and other financial institutions need to formulate a strategy to accelerate the growth of digital ecosystem. Fintech has more flexibility and agility in terms of distribution while banks have sustainable capital and resources, therefore, collaboration would benefit each other to sustain one another," he said.
 
A collaboration between banks and fintechs could be enabled through API integrations. APIs (Application Programming Interface) is software intermediaries which allow two applications or institutions, such as a fintech and a bank, to talk to each other. For example, Ayoconnect's API platform enables developers to choose from a wide range of financial white-label products on Ayoconnect’s API platform and quickly launch them to their users.
---
Founded in 2016, Ayoconnect’s API stack has seen rapid adoption. It is trusted by more than 100+ Indonesian companies as clients, including leading banks, retailers, e-commerce, fintechs, and e-wallets such as Bank BRI, Bank Mandiri, DANA, Indomaret, Bukalapak, Home Credit, Pegadaian and connects more than 1,000 institutions through its network of APIs. Ayoconnect’s APIs process more than 300 million API hits annually.
 
For more information on Ayoconnect’s API-driven solutions, please contact us at partnership@ayoconnect.id.

Ayoconnect, BRI Agro, BTPN, and MNC Bank Shares A Stage at Wild Digital 2021

<h3>Habibie’s distinguishing marks in the industry will significantly advance fast-growing Ayoconnect as the company is well underway on its expansion into Open Finance and Open Government.</h3>
 
JAKARTA, 25 October 2021 -- Earlier today, Ayoconnect announced that it had appointed Indonesian technopreneur powerhouse Ilham Habibie as commissioner. Ilham has previously served as the company’s strategic advisor since August 2020 before joining the ranks of investors in Ayoconnect pre-series B round in September.
 
Ayoconnect, which began operations in 2016, recently managed to raise US$10 million in investment on its latest funding round, scoring a total of US$ 15 million in equity investment last year.
 
The company seeks to democratize open finance in Indonesia, offering a wide range of financial white-label products on its extensive Application Programming Interface (API) platform. Through this, Ayoconnect works to facilitate greater interoperability and collaboration among financial institutions in Indonesia, ultimately enabling them to launch new products quickly to serve unmet customers’ needs and unlock new revenue streams.
 
Ilham’s appointment brings into the fold a figurehead who has been deeply involved in Indonesia’s ICT and finance landscape. Prior to his role at Ayoconnect, Ilham has headed the National ICT Council of Indonesia as its Chief Executive since 2014. He also has an active role as the Chairman of Bank Muamalat, Indonesia’s first Islamic (Sharia) Bank, while leading as a Chairman, co-founder/shareholder PT. ILTHABI Rekatama, a private investment company in Indonesia.
 
Ilham is also actively involved in various organizations that focus on research and technology in Indonesia, including the Agency for Research and Technology of the Indonesian Chamber of Commerce and Industry (KADIN) and the National Information and Communication Technology Council (WANTIKNAS), making him poised to be a valuable asset for Ayoconnect to fast-track financial inclusion within the Indonesian market.
 
<blockquote>“With Ilham joining as our commissioner, we will further accelerate Ayoconnect’s role in building the future of Indonesia’s digital ecosystem,” said Ayoconnect CEO Jakob Rost.</blockquote>
“Ilham is a visionary figure who has successfully driven innovation and encouraged meaningful collaborations between various organizations. With Ilham on board, we are looking forward to acquiring more partnerships with various state-owned enterprises and financial institutions as well as collaborating with a wider community of entrepreneurs in Indonesia.”
 
According to Rost, Ilham’s appointment as commissioner comes as Ayoconnect begins to expand its API footprint into open finance and open government. The company currently services over 1,000 companies in Indonesia, including leading financial service providers, tech companies, and established household names. Ayoconnect’s API platform processes more than 300 million API hits annually and has experienced a 600% increase in transaction numbers compared to the same period last year.
 
<blockquote>“I have been continuously impressed by Ayoconnect’s push for progress and impact in the Indonesian fintech landscape. I am very excited to be joining the team and to drive financial inclusion in Indonesia. The goal is to provide innovative technology solutions to companies of all sizes, giving them intelligent tools to help their customers, including those that are still underserved by traditional financial institutions,” said Ilham Habibie.</blockquote>
Financial and digital inclusion are broad challenges that affect millions of Indonesians. In 2021, Indonesia’s unbanked citizens still account for an estimated 66% of the country’s 275 million population, making Indonesia one of the highest unbanked populations in the world.
 
However, the government continues to open doors for new fintech entrants like Ayoconnect to revolutionize the system through a grassroots approach. The country is now home to 20% of all fintech companies in the Southeast Asian bloc and is expected to become one of the largest fintech ecosystems globally over the next five years.
<h3> </h3>
<h3>About Ayoconnect</h3>
Ayoconnect is Indonesia's largest API platform. It enables developers to choose from a wide range of financial white-label products on Ayoconnect’s API platform and quickly launch them to their users. Ayoconnect remains in the background, focused on building and operating the necessary infrastructure while allowing their clients to monetize and expand their business in a fast and massive way.
 
Founded in 2016, Ayoconnect’s API stack has seen rapid adoption. It is trusted by more than 100+ Indonesian companies as clients, including leading banks, retailers, e-commerce, fintechs, and e-wallets such as Bank BRI, Bank Mandiri, DANA, Indomaret, Bukalapak, Home Credit, Pegadaian and connects more than 1,000 institutions through its network of APIs. Ayoconnect’s APIs process more than 300 million API hits annually.
 
Ayoconnect has raised a total of US$15 million from leading local and international institutional investors. Ayoconnect's investors include Mandiri Capital Indonesia, Bank Mandiri’s corporate venture capital unit; BRI Ventures, Bank BRI's corporate venture capital unit; Indonesia’s AC Ventures, headed by Chairman of the Indonesian Fintech Association Pandu Sjahrir; Patamar Capital, Southeast Asia’s leading impact venture capital; Kakaku, a public company listed on the Tokyo Exchange (TYO); and Finch Capital among others. Ayoconnect continues expanding its ecosystem to accelerate financial inclusion and adoption of embedded finance throughout Indonesia.

Ilham Habibie Joins Indonesian Open Finance Fintech Ayoconnect as Commissioner

<ul>
 <li>Indonesia’s leading open finance API platform Ayoconnect announced its strategic partnership with Indonesia’s largest bank by total assets Bank Rakyat Indonesia (BRI)</li>
 <li>This partnership enables Ayoconnect to provide its clients unique access to BRI’s digital financial services, among which are direct debit, bulk transfer, and flexible deposit</li>
 <li>Ayoconnect and BRI’s collaboration is set to drive the adoption of open finance to boost both companies’ growth, improve customers’ experience, and accelerate financial inclusion among Indonesia’s unbanked and underbanked population</li>
 <li>Established in 2016, Ayoconnect has raised a total of US$15 million in funding. Its pre-series B round was led by BRI Ventures, BRI’s venture capital arm</li>
</ul>
 
Jakarta, 4 November 2021 - Indonesia’s leading open finance API platform Ayoconnect announced its strategic partnership with Indonesia’s largest bank by total assets Bank Rakyat Indonesia (BRI). The partnership enables Ayoconnect to provide hundreds of its clients with seamless access to BRI’s digital financial services, such as direct debit, online account opening, and bulk transfer.
 
The collaboration between Ayoconnect and BRI gives a living example of the power of open finance. “Open finance is a system that enables interconnectivity between financial services providers with other service providers to enhance their customers’ experience using APIs,” explained Ayoconnect’s COO and Founder Chiragh Kirpalani.
 
“Ayoconnect’s open finance is developed to build an ecosystem that allows consumer-facing businesses to quickly and seamlessly launch digital financial services to their customers, without having to build the necessary infrastructure on their own from scratch,” he continued.
 
As reported by Accenture, open finance is expected to be the future of the financial services industry across the world, including in Indonesia. The study, which was published in June 2021, found that the implementation of open finance unlocks the potential of revenues of up to US$416 billion for the financial services industry globally, and that 76% of banks worldwide expect open finance API usage to increase by 50% or more in the next three to five years.
 
Despite possessing an e-commerce market value of US$19 billion powered by its 277 million population, Indonesia’s card penetration remains low at 0.64 debit cards per capita and just 0.06 credit cards per capita. Consequently, the majority of Indonesian consumers who would like to shop virtually have to go through a series of steps before completing their purchase, or pay for the goods and services using cash. With open finance, Indonesian consumers will have greater flexibility, lower cost, and accelerated process to any financial services that they need.
 
As illustrated by BRI’s Head Digital Banking Development and Operations, Muhammad Ghifary, “Ayoconnect’s strategic partnership through BRIAPI enables BRI’s customers to experience new and easier way of transacting through direct debit in any retail platforms that have partnered with Ayoconnect. This collaboration is set to enable a seamless banking experience for hundreds of millions of BRI customers throughout Indonesia.”
 
Ghifary also expresses his enthusiasm for the collaboration between BRI and Ayoconnect. “BRI will continue to support Indonesia’s open finance ecosystem by establishing BRIAPI as the partnership gateway with various digital and non-digital platforms to expand our ecosystem beyond banking. We aim to provide embedded financial services in various platforms through strategic partnerships, similar to what we have with Ayoconnect,” he stated.
 
Chiragh Kirpalani added, “Ayoconnect is proud and grateful to have the opportunity to work closely with BRI. Together, we are going to make our shared vision of building the technology infrastructure to connect the entire Indonesia’s population a reality for everyone.”
 
Established in 2016, Ayoconnect has raised a total of US$15 million from leading local and international institutional investors, one of which being BRI’s venture capital arm BRI Ventures. The fintech company has also recently appointed Indonesia’s renowned technopreneur Ilham Habibie as their commissioner.
 
 
<h3>About Ayoconnect</h3>
Ayoconnect is Indonesia's largest API platform. It enables developers to choose from a wide range of financial white-label products and quickly launch them to their users. Ayoconnect remains in the background, focused on building and operating the necessary infrastructure while allowing their clients to monetize and expand their business in a fast and scalable way.
Founded in 2016, Ayoconnect’s API stack has seen rapid adoption. It is trusted by more than 150+ Indonesian companies as clients, including leading banks, retailers, e-commerce, fintechs, and e-wallets—such as Bank BRI, DANA, Indomaret, Bukalapak, Home Credit, and Pegadaian—and connects more than 1,000 institutions through its network of APIs. Ayoconnect’s APIs process more than 300 million API hits annually.
Ayoconnect has raised a total of US$15 million from leading local and international institutional investors. Ayoconnect's investors include Mandiri Capital Indonesia, Bank Mandiri’s corporate venture capital unit; BRI Ventures, Bank BRI's corporate venture capital unit; &nbsp;Indonesia’s AC Ventures, headed by Chairman of the Indonesian Fintech Association Pandu Sjahrir; Patamar Capital, Southeast Asia’s leading impact venture capital; Kakaku, a public company listed on the Tokyo Exchange (TYO); and Finch Capital among others. Ayoconnect continues expanding its ecosystem to accelerate financial inclusion and adoption of embedded finance throughout Indonesia.
 
<figure><img src="https://assets.protocol.ooo/uploads/article_attachments/image/601/fa293306-8d16-4c52-a7e8-a0fe7248aaa1.webp"/></figure>
 
<h3>Media Contact</h3>
Bina Mallika Nandini
Brand &amp; Communication Manager Ayoconnect
E: <a href="mailto:bina@ayoconnect.id" rel="noopener noreferrer" target="_blank">bina@ayoconnect.id</a>