Ayoconnect Raises $15M Series B Financing
Gunderson Dettmer represented client Ayoconnect, Southeast Asia’s largest open finance platform, in its $15 million Series B financing led by Tiger Global. Other investors included PayU, the payments and fintech business of Prosus, Alto Partners, and individual strategic investors such as Plaid co-founder William Hockey and Jerry Ng, President Commissioner of Bank Jago. The Indonesia-based company plans to use its new funding for product development and to expand its product offerings.
In the announcement of the transaction, CEO and co-founder at Ayoconnect Jakob Rost said, “After six years of building new rails for Indonesian finance, today Ayoconnect is the most robust and in-demand open finance platform in the country. We are building the AWS of open finance with the most complete offering globally so that we can power the companies of today and the tech unicorns of tomorrow. We are proud to receive the backing of some of the world’s most renowned investors.”
The Gunderson deal team was led by David He, and included Soo Guo Kai and Angelica Bos.