Scaling success
- “We describe our platform as a three-layer wedding cake. The bottom layer is payments, the middle layer is commerce, and the topmost layer is open finance or open banking,” explained Mikko Perez, Founder & CEO of 500-backed fintech company Ayannah.
- Ayannah is a direct B2B2C software-as-a-service which enables digital finance and digital commerce transactions. The platform allows financial institutions and consumer brands to reach the growing middle class – particularly the entrepreneurs of micro, small and medium enterprises (MSMEs) – through digital and hyperlocal channels in the Philippines and Indonesia.
- What makes Ayannah unique? The team attributes their success to these 4 key factors: staying razor-focused on the underbanked and underserved, serving MSME entrepreneurs, partnering with financial service providers and consumer brands, and working with cooperatives.
- “There are thousands of cooperatives in the Philippines and Indonesia and most of them still do not have digital platforms to help them serve their members,” explained Adrian Lorenzo, Country Managing Director (Indonesia). “We work closely with them to help their members – many of whom are MSME entrepreneurs or aspiring to be – grow their income and sales with digital tools, connect them to financing, and even give them better bargaining power with suppliers.”
- Mikko added, “We actually interact with the cooperatives we work with, and we assist them whether that is in capital or technology. We also help them get access to cheaper capital through local investors or international investors across Asia.”
- With an uncompromising emphasis on strong partnerships, as well as a measured and structured approach to growth, Ayannah grew their ‘lending-as-a-service’ platform from an initial lending volume of US$7,000 (December 2020) to processing close to US$2M a month in loans today while maintaining a 100% collection rate (zero non-performing loans) — that is no mean feat!
- Listen to the full podcast episode here.
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