Expansion of the responsAbility Fintech Portfolio in Asia
A responsAbility-managed private equity vehicle focusing on financial inclusion has acquired a minority stake in C88 Financial Technologies Pte. Ltd. C88 is a market leading fintech company providing financial marketplaces for lending and insurance products in Indonesia and the Philippines. Through a partnership with Experian, C88 plans to increase financial inclusion in the markets by improving the matching of millions of underserved customers with appropriate financial products.
Through its online portals CekAja.com in Indonesia and eCompareMo.com in the Philippines, C88’s makes a range of alternative financial products available to customers, with comparison between alternative products and providers contributing to pricing transparency. Matching the customer’s profile with appropriate products, the Company also facilitates the purchase process and conducts know-your-customer research on behalf of its partnering banks and insurance companies.