C88, parent company of customer financial service e-commerce platform CekAja, has raised another funding. This time the company secured the funding from Korea Investment Partners (KIP), with the amount undisclosed.
The funding round is a continuation of the company’s oversubscribed Series C. Following the funding round, C88 will remain focussed on its customers in Indonesia, particularly the banking and multifinancing sector.
“When we were fundraising for our Series C funding round, we received an overwhelming attention from investors that led to the oversubscription. One of the investors that we would really like to work with is KIP. So initially there is no urgency from us [to raise another round], but there is a great interest coming from investors,” C88 CEO JP Ellis told DailySocial.
In the Series C funding round that was being announced in early August, C88 secured US$28 million from a consortium of investors led by Experian. The funding was being used to support the company’s expansion to Thailand, in addition to its existing presence in Indonesia and the Philippines.
After raising the funding, Ellis said that the company will remain focussed on their customers: the Indonesian public and the majority of banks and multifinance services. Their goal is to give a greater access to financial services and promote financial literacy to the public.
“We will continue to be obsessively focussed on our customers, which consists of millions of Indonesians and the majority of banks and multifinance services in the country. We will focus on providing solutions for them so that there will be greater access to financial services, better financial literacy, and closer collaboration between us and the Indonesia banking and multifinance sector. Hopefully we will be able to secure more customers with our improved tech, data, and analytics,” Ellis explained.
The article Induk Perusahaan CekAja Kembali Peroleh Pendanaan, Kali Ini dari Korea Investment Partners was written in Bahasa Indonesia by Prayogo Ryza for DailySocial.