Fintech company Compare88 (C88) today announced that it has raised an undisclosed Series B round led by Telstra Ventures, with participation of existing investors Monk’s Hill Ventures and Kejora Ventures.
Other investors participating in the round are Captii Ventures, Altitude Partners, Jasrag Investments, and several unnamed “international investment groups and high net worth individuals” from Indonesia and Malaysia.
“This investment round provides us with the funding necessary to scale-up our market leadership in Indonesia and the Philippines. We aim at pushing into mass market branding as we continue to employ our significant scale and focus to help customers save time and money, help our partners cost-competitively on-board new customers at scale, and help our key regulatory partners continue to shape an equitable financial services technology sector rooted in transparency and inclusion,” C88 Co-Founder and Group CEO JP Ellis stated in a press statement.
C88 owns and operates financial services e-commerce platforms CekAja in Indonesia and eCompareMo in the Phillipines. The group also co-operates Premiro in Indonesia, a licensed insurance e-brokerage services provider to consumers and small to medium enterprises (SMEs).
In March 2015, C88 raised its Series A funding from Monk’s Hill Ventures.
As for Telstra Ventures, the investment is the fourth that they claimed to have made in Asia over the past 12 months.