Reconciling messy financial data across disconnected systems

This article is a part of Startup Spotlight, a series that features young, up-and-coming startups.

Image credit: Timmy Loen

While interviewing 74 candidates for a finance role, Tedo Ziraga discovered a shared frustration. Candidates described manual data reconciliation as a severe bottleneck that ruined month-end close cycles.

He launched Matchmade to provide the missing infrastructure for modern finance operations.

😟 Problem

Enterprise finance teams in Southeast Asia manually reconcile data across dozens of disconnected systems. Large retail chains process millions of transactions monthly across Shopee, Stripe, and Grab.

These formatting differences force staff to waste hours in spreadsheets.

Errors in manual reconciliation lead to revenue leakage and delayed closing periods for high-volume enterprises. Finance teams struggle to trust their own numbers.

💡 Solution

Matchmade built a rule-based engine to automate complex financial reconciliation workflows at scale. The software deploys in under two weeks and features several core capabilities:

• Ingests raw data from over 10,000 pre-built sources covering banks, payment gateways, and marketplaces.
• Transforms and consolidates data using customizable rules to completely eliminate AI hallucination risks.
• Matches data across disconnected systems and flags specific exceptions for non-technical users to resolve.
• Automates downstream processes using application programming interfaces and agentic layers with traceable storage.

Image credit: Matchmade

📊 Market size

The global enterprise finance operations market represents a US$98 billion opportunity. Highly complex reconciliation workflows across Southeast Asia, Japan, and South Korea account for US$1.6 billion of this total. Industries like retail, financial services, and logistics drive this regional demand.

🤝 Team

• Tedo Ziraga. CEO and co-founder. He spent over a decade scaling tech companies like Gojek and Tinvio across the Asia-Pacific region.
• Kornelius Samuel. CTO and co-founder. He previously led multi-country product engineering teams at IBM and Gojek.
• Gilang Gibranthama. CCO and co-founder. He brings a decade of sales and marketing experience from Gojek and Binar.

🚀 Traction

• Reached US$1 million in annual recurring revenue in under two years with an 88% gross margin.
• Grew revenue 3.3x year over year with 99% cohort retention and 120% net revenue retention.
• Secured enterprise clients including Pizza Hut and Wingstop across Indonesia, Singapore, and Malaysia.

🏆 Competition

💰 Financials

🚩 Risks