Fintech startup C88 bags US$28m from Series C funding

It operates financial marketplaces in Indonesia and the Philippines.

Information services firm Experian led an over-subscribed US$28m Series C investment in Singapore-based C88 Financial Technologies Group (C88), which operates financial marketplaces CekAja.com in Indonesia and eCompareMo.com in the Philippines.

According to an announcement, investors in the Series C round, amongst others, include responsAbility Investments AG, DEG, InterVest, FengHe Fund Management, Pelago Capital and Fuchsia Venture Capital as well as existing investors Monk’s Hill Ventures, Telstra Ventures, Kickstart Ventures, and Kejora Ventures.

As licensed financial marketplaces for consumers and small and medium businesses, CekAja.com and eCompareMo.com have served over 50 million consumers since 2013.

Experian’s strategic investment and partnership provide C88’s brands with the ability to deploy Experian’s demand generation, analytics and digital on-boarding technologies directly via CekAja.com and eCompareMo.com platforms.

C88 is eyeing the opening of a third marketplace in Thailand.