Indonesian fintech firm Ayoconnect's losses tripled in 2022 despite higher revenues

Indonesian fintech firm Ayoconnect's losses tripled in 2022 despite higher revenues

(Left to right) Chiragh Kirpalani (COO Ayoconnect); Ilham Habibie (Commissioner Ayoconnect); Jakob Rost (CEO Ayoconnect)

Indonesia’s open finance API platform Ayoconnect reported a three-fold increase in losses in 2022 as expenses nearly tripled, according to its filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA).

Edited by: Joymitra Rai