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§ Private Profile · Singapore
Financial technology company operating licensed financial marketplaces and providing SaaS to financial institutions in ASEAN.
Based in Singapore, C88 Financial Technologies operates licensed financial marketplaces and provides digital onboarding, credit analytics, and lending-as-a-service software to financial institutions across the broader Southeast Asian markets. The company has served over 50 million consumers and small-to-medium businesses through its regional platforms, connecting users with various loans, credit cards, insurance policies, and wealth management products. Operating consumer-facing portals such as CekAja.com in Indonesia and eCompareMo.com in the Philippines, the enterprise recently rebranded its overarching corporate identity to Caxe Technologies to reflect its expanding software offerings. The fintech firm has raised more than $45 million in total equity funding, highlighted by a $28 million Series C round led by Experian alongside participation from Telstra Ventures and Monk's Hill Ventures. C88 Financial Technologies was originally founded in 2013 by John Ellis and an initial team of co-founders.
C88 Financial Technologies has raised $28.0M across 1 funding round.
C88 Financial Technologies has raised $28.0M in total across 1 funding round.
C88 Financial Technologies has raised $28.0M across 1 funding round. Most recently, it raised $28.0M Series C in July 2018.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 1, 2018 | $28M Series C | BEN Elliott Gaicd | Blackbird Ventures Australia, Telstra Ventures, DEG, Fenghe Fund Management, Intervest, Kejora Capital, Kickstart Ventures, Muang Thai Fuchsia Ventures, Pelago Capital, Responsability Investments | Announced |
C88 Financial Technologies is a leading Southeast Asian fintech company headquartered in Singapore with major operations in Indonesia and the Philippines, serving over 20 million customers since its founding in 2014[1][4][7]. It operates high-traffic, licensed financial e-commerce platforms like CekAja.com (Indonesia) and eCompareMo.com (Philippines), offering integrated financial education, product comparison, and application services for loans, insurance, investments, and more to retail and small business users[1][7]. The company also provides B2B solutions including credit data, risk management, big data analytics, machine learning tools, digital banking software, and regtech customized for regional financial institutions, employing over 600 people across its markets[1][2][4][6].
As a venture and private equity-backed firm (with $28M raised, at Series C-II stage), C88 targets underserved consumers and businesses in FinTech, InsurTech, and PropTech, solving access to financial products in emerging markets through transactional marketplaces and tech-driven risk solutions[1][2][3][6].
Founded in 2013 or 2014, C88 Financial Technologies emerged to address financial inclusion in Southeast Asia by launching consumer-facing marketplaces CekAja.com in Indonesia and eCompareMo.com in the Philippines[1][6][7]. Specific founders are not detailed in available sources, but the company quickly scaled to serve millions, backed by investors like Mountain Partners and DEG Invest[1][7]. Early traction came from its regulated platforms enabling seamless shopping for financial products amid rising digital adoption; it has evolved from pure consumer comparison sites to a diversified tech provider, including B2B analytics and risk tools, with a rebrand to Caxe Tech noted in some records while retaining C88 branding[1][6].
Note: Headquarters shifted from Jakarta-centric to Singapore-based as operations expanded, reflecting regional growth[1][4].
C88 rides the fintech boom in Southeast Asia, where digital finance penetration is surging due to smartphone ubiquity, young demographics, and post-pandemic shifts to online services—timing aligns with regulatory support for licensed platforms in Indonesia and Philippines[1][7]. Market forces like unbanked populations (hundreds of millions regionally) and demand for affordable credit/insurance favor its marketplaces, while B2B tools address banks' needs for data-driven decisions amid rising loan volumes[1][6]. It influences the ecosystem by powering financial inclusion, competing with players like MoneySmart and MoneyHero, and enabling smaller institutions via tech outsourcing—amplifying startup growth in adjacent regtech and analytics[6].
C88 (potentially transitioning to Caxe Tech) is poised for deeper B2B expansion in digital lending and regtech, leveraging its data moat amid AI-driven fintech evolution and SEA's projected $1T digital economy by 2030[6]. Trends like embedded finance and cross-border expansion will shape it, potentially boosting influence through partnerships or IPO paths, solidifying its role as a regional fintech backbone from its proven 20M-user foundation[1][6].
C88 Financial Technologies has raised $28.0M in total across 1 funding round.
C88 Financial Technologies's investors include Ben Elliott GAICD, Blackbird Ventures Australia, Telstra Ventures, DEG, FengHe Fund Management, InterVest, Kejora Capital, Kickstart Ventures, Muang Thai Fuchsia Ventures, Pelago Capital, responsAbility Investments.