C88 Raises $28M Led by Experian
Singapore-based C88 Financial Technologies (C88) has recently announced it has raised a $28m Series C round led by Experian, and joined by responsAbility Investments AG (Zurich, Switzerland) , DEG (Cologne, Germany), interVest (Seoul, South Korea), Pelago Capital, Fuchsia Venture Capita, Monk’s Hill Ventures, Telstra Ventures, Kickstart Ventures and Kejora Ventures amongst others. The round brings the company’s total funding to date to over $45m.
Wait, there’s more. Experian’s software and solutions will be embedded into C88’s platforms to make financial services accessible to people in Southeast Asia, through matching consumers to financing solutions that they are eligible for. It will also provide financial institutions with access to analytics, digital on-boarding technologies, and credit-scoring solutions to allow for an effective loan and credit card approval process.
Recall: C88, established in 2013, owns and operates licensed financial marketplaces in Indonesia (CekAja.com) & the Philippines (eCompareMo.com).
Bottom Line: the cash will (also) be used to expand to Thailand.