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Compare88, which owns and operates financial product comparison startup CekAja and eCompareMo (in the Philippines), announced it has secured Series A funding from Singapore-based Monk’s Hill Ventures for undisclosed amount. Monk’s Hill’s Managing Partner Peng T. Ong and Partner Stefan Jung will join Compare88′s board.
The company will use the funds to further accelerate growth in Southeast Asia, expand the team, and build out its technology. This is Monk’s Hill’s first investment after the firm is founded about a year ago.
J.P. Ellis, CekAja’s CEO and Co-Founder, in the press release said, “We are delighted to partner with Monks Hill Ventures and their leadership team of deeply accomplished entrepreneurs. We share a long-term vision and conviction that online comparison and brokerage services will be highly popular with consumers due to increased efficiency, speed and transparency. Online services will also improve consumer protection and aid in equitable economic development.”
Peng T. Ong added, “Compare88 has grown quickly into the regional leader in this space. And, we look forward to working with the team to building a true regional powerhouse in the coming years.”
According to our conversation with Ellis about a month ago, this year CekAja targets to obtain two million unique visitor every month with high quality traffic.
Source: DailySocial
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