October 14

Indonesia’s Ayoconnect Raises $13 Million Series B+ Led by SIG Venture Capital

Ayoconnect, an Indonesia-based open finance platform, has closed $13 million for its Series B+ financing round led by SIG Venture Capital with participation from CE Innovation Capital.

Ayoconnect said in a statement that its existing investor fintech PayU, the payments and Fintech business of Prosus, has also increased its stake.

This is a follow-on round to its oversubscribed Series B fundraises led by Tiger Global and closed in January 2022.

The new funding has increased its total fundraise this year to $28 million.

According to the statement, the new funding will enable Ayoconnect to continue building out an exceptional leadership team, and to invest in product and technology development.

Source: TechNode Global (link opens in a new window)

digital payments, financial inclusion, fintech, venture capital