Credit scoring services provider Experian led a $28m series C round for Singapore-based financial product marketplace operator C88 yesterday, taking the company’s total funding to more than $45m.
Telstra Ventures, telecommunications firm Telstra’s investment arm, also took part, as did Responsability Investments, DEG, InterVest, FengHe Fund Management, Pelago Capital, Fuchsia Venture Capital, Monk’s Hill Ventures, Kickstart Ventures and Kejora Ventures.
Formerly known as Compare88, C88 owns two online marketplaces – CekAja.com in Indonesia and eCompareMo.com in the Philippines – where users can compare financial products.
The series C funding will help it open a third site that will be focused on Thai users, and C88 will also integrate Experian’s technology into its platforms.
Ben Elliott, CEO of Exeprian’s Asia Pacific division, said: “Together we are building an ecosystem in countries where traditional data is not readily available, and in the process making important leaps towards empowering consumers with enhanced financial access.
“We are delighted with this partnership, as this demonstrates our further commitment to Indonesia and the Asia Pacific region as a whole.”
Telstra Ventures had led a series B round of undisclosed size for C88 in September 2016, investing with Monk’s Hill Ventures, Kejora Ventures, Captii Ventures, Altitude Partners and Jasrag Investments, a year after Monk’s Hill had provided an undisclosed amount for the company.