Jakarta, March 4, 2015 – Finance and insurance portal Compare88 Group announced today that it has raised an undisclosed amount in Series A funding from Singapore-based Monk’s Hill Ventures.
Compare88 owns and operates the CekAja.com brand in Indonesia – the country’s highest-trafficked independent finance and insurance portal, as well as the eCompareMo.com brand in The Philippines. The company will use the funds to further accelerate its growth in the region, expand the team and build out its technology.
CEO and co-founder, John Patrick Ellis says: “We are delighted to partner with Monks Hill Ventures and their executive team of accomplished entrepreneurs. We share a long-term vision and conviction that online comparison and brokerage services will be highly-popular, equitable vehicles of economic growth and consumer protection in the region.”
Compare88 also announced that Monk’s Hill Venture’s managing director Peng T. Ong, who recently stepped down from the board of Singtel.
“Compare88 has grown quickly into the regional leader in this space,” says Ong in a statement, “And, we look forward to working with the team to building a true regional powerhouse in the coming years.”