Formerly known as Orange Growth Capital, Finch Capital is an early stage venture capital firm with a focus on Europe- and Southeast Asia-based fintech startups. Following the investment, a representative of the firm will join Ayopop’s board.
Ayopop has declined to share details of their plan with the new funding round, with CEO and co-founder Jakob Rost stating that it will “focus all efforts” to build the company.
Prior to this funding round, Ayopop has raised a US$1 million seed funding round led by GREE Ventures in April.
Ayopop enables users to pay various bills, from cable TV to national health insurance, using credit card or bank transfer with one mobile app. The mobile app has secured around 100,000 downloads on the Android platform.
In this sector, Ayopop is competing with Indonesian unicorn startups such as Go-Jek, Tokopedia, and Bukalapak.
Go-Jek has recently launched a feature on its mobile app that enables users to pay for national health insurance and electricity bills using its cashless payment tool Go-Pay, as part of its effort to expand the use of Go-Pay to transactions outside of the Go-Jek ecosystem.
Bukalapak and Tokopedia also offers bills payment features on their mobile and desktop platforms.
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