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Experian leads USD 28 mln investment to drive financial inclusion across Southeast Asia

Monday 30 July 2018 | 10:53 AM CET

Experian has led a USD 28 million Series C investment in C88 Financial Technologies Group (C88) to drive financial inclusion in Southeast Asia.

C88 is a Singapore-based fintech company, with operations in Indonesia’s CekAja.com and Philippines’s eCompareMo.com. The fintech is also opening a third marketplace in Thailand. Other investors in the Series C round 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 investment and partnership provides 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.

Market Experian software and decisioning solutions will be embedded into CekAja.com and eCompareMo.com financial marketplaces and with its partner distribution network. For consumers, this means they will be able to be matched to products they are eligible for. This will be applicable to those consumers with little financial history. Financial institutions will be able to deploy demand generation, analytics and digital on-boarding technologies directly via C88, powered by Experian.

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