Indonesian bill-payment app Ayopop secures $1m Seed round

Indonesian bill payments app Ayopop has secured $1m in a Seed round.

Japanese early-stage VC Gree Ventures led the investment with angel backers also participating.

Ayopop allows users to pay a range of bills such as utilities and subscriptions through its app with the company monetised through a commission on each transaction.

The company will use the capital to continue its expansion beyond just bills payments into other areas such as on-demand video.

The Indonesian market is seen as highly lucrative for mobile payments as much of the population has never had a traditional bank account.

It’s thought that mobile services, facilitated by booming smartphone adoption can help to increase adoption of financial services.

The startup counts Indian mobile payments platform FreeCharge’s founder Sandeep Tandon as an advisor.

Copyright © 2017 FINTECH GLOBAL

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