JAKARTA, NNC - Experian, an information and analytics service, led the C Series investment of US$28 million to C88 Financial Technologies Group, the parent company of CekAja.com.
Other investors in C88 Series C funding rounds include ResponAbility 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 a trusted financial services provider for retail consumers and micro, small and medium enterprises, CekAja.com has served more than 25 million consumers in Indonesia since it was first established. This number has increased, driven by exponential growth in the Indonesian middle class, making CekAja.com one of the fastest growing financial markets in Southeast Asia.
CekAja.com is also an official partner for financial transparency of the FinTech Indonesia Association, in partnership with the Indonesian Financial Services Authority (OJK), a registered partner of Bank Indonesia (BI), as well as a member of the Association Board of FinTech Indonesia.
Ben Elliott, Chief Executive Officer, Asia Pacific, Experian said in Southeast Asia at least 48 percent of more than 600 million people have access to banking. Meanwhile, the traditional banking system makes individuals and businesspeople difficult to borrow or save money and become a significant obstacle to social and economic progress.
"Experian has worked with financial institutions and startups in Asia, including CekAja.com, for this advancement. We are very pleased with this partnership, as this demonstrates our commitment to the Asia Pacific region," he said.
John Patrick Ellis, Co-Founder and Group CEO of CekAja.com said it believes it can have a positive impact on our communities and communities by opening access to financial products and services.