# Ayoconnect

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ayoconnect

- Industry: Financial Services
- Headquarters: Jakarta, Indonesia
- Website: www.ayoconnect.id
- Total disclosed funding: $47M
- Latest round: Series B (Dec 19, 2022)
- Investors on record: 15

## About

Ayoconnect, based in Indonesia, offers innovative API solutions for payment and banking services, streamlining financial transactions for businesses and enhancing customer experiences across Southeast Asia.Founded in 2016 in Jakarta, Indonesia, Ayoconnect specializes in providing API solutions for payment processing. The company has successfully completed 9 deals, with its latest deal occurring on September 25, 2025, raising USD 2.5 mn from Mandiri Capital Indonesia. The company was co-founded by Chiragh Kirpalani and Jakob Rost, who also serves as the CEO.Ayoconnect is a leading provider of comprehensive payment and banking solutions in Indonesia, focusing on revolutionizing financial services through innovative API solutions. The company's core offerings include recurring payment systems, digital product payment options (PPOB), embedded lifestyle solutions, virtual cards, instant transfer services, and autobilling features. These products are designed to meet the growing demands of businesses looking for efficient, secure, and scalable payment solutions. Ayoconnect serves a diverse client base, including financial institutions, e-commerce platforms, and various businesses across sectors, ensuring seamless transaction experiences for end users in Indonesia and other Southeast Asian markets.Ayoconnect generates revenue primarily through transaction fees associated with its payment processing services and subscription models linked to its API offerings. The company engages in partnerships with businesses to facilitate recurring payments and digital transactions, creating a robust B2B service framework. Specific pricing plans for services include charges for transaction volumes processed through its platform and monthly subscription fees for access to premium features. The company's flagship services, such as recurring payment solutions and digital product payments, are central to its revenue model, effectively catering to the needs of retailers and service providers within the financial landscape.In September 2025, Ayoconnect raised an undisclosed amount of venture funding led by returning investor Finch Capital, with participation from new investor Ion Pacific. The company plans to utilize this funding to expand its financial API services and accelerate its path to breakeven, indicating a strategic focus on enhancing its product offerings and operational efficiency.

## Funding rounds

- Series B, Dec 19, 2022, $17M — SIG Asia Investment, PayU GPO, Mastercard Incorporated, Ce Innovation Capital
- Series B, Jan 25, 2022, $15M — Alto Partners, Tiger Global Management, PayU GPO, Muir Capital
- Series A, Jul 29, 2021, $9.2M — STRIVE, Convergence Ventures, Patamar Capital, Finch Capital, Mandiri Capital Indonesia, Taurus Ventures, Amand Ventures
- Series A, Jan 29, 2018, $4.7M — STRIVE, Convergence Ventures, Patamar Capital, Finch Capital, Taurus Ventures, Amand Ventures
- Seed, Apr 13, 2017, $0.9M — STRIVE, Meta Studio Advisors
- Angel, Jun 1, 2016 — STRIVE

## Investors

- STRIVE (https://capitalatlas.ai/funds/strive) — Angel, Seed, Series A
- Meta Studio Advisors — Seed
- Convergence Ventures — Series A
- Patamar Capital (https://capitalatlas.ai/funds/patamar-capital) — Series A
- Finch Capital (https://capitalatlas.ai/funds/finch-capital) — Series A
- Taurus Ventures (https://capitalatlas.ai/funds/taurus-ventures) — Series A
- Amand Ventures (https://capitalatlas.ai/funds/amand-ventures) — Series A
- Mandiri Capital Indonesia (https://capitalatlas.ai/funds/mandiri-capital-indonesia) — Series A
- Alto Partners (https://capitalatlas.ai/funds/alto-partners) — Series B
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series B
- PayU GPO — Series B
- Muir Capital — Series B
- SIG Asia Investment (https://capitalatlas.ai/funds/sig-asia-investment) — Series B
- Mastercard Incorporated — Series B
- Ce Innovation Capital — Series B