C88 Financial Technologies Pte. Ltd.

Customer

Since 2014, C88 Financial Technologies provides financial marketplace services under the brands CekAja.com in Indonesia and eCompareMo.com in the Philippines. Following their mission statement “Championing financial access to millions”, the market-leading group offers digital comparison and online sales distribution for financial products of financial institutions. The group designs and builds essential financial technology infrastructure such as market leading online financial marketplaces where customers are provided with online comparison and application services for financial products.

Funding Objective

DEG is providing a top-up equity financing to existing client C88 Financial Technologies.

Reasons for financing

The new funds will be used primarily to further grow and expand the financial services to provide the markets in Indonesia and the Philippines with much needed financial infrastructure.

Region Asia
Country Supraregional
Sectors Financial Sector
Signing Date 08-2021
Funding EUR 170 Thousand
Source of Funding DEG's own funds
Environmental & Social Category
Risk categorization on environmental and social impacts:
A = High risk; Investments with significant potential adverse social or environmental impacts that are diverse, irreversible or unprecedented. These impacts cannot be mitigated or remedied or only at significant costs.
B+ = High Medium Risk; Investments with limited potential adverse social or environmental impacts that are site-specific addressed through mitigation measures, but having specific features which can have potential significantly more adverse social or environmental impacts.
B = Low Medium Risk; Investments with limited potential adverse social or environmental impacts that are site-specific and readily addressed through well-known mitigation measures.
C = Low Risk; Investments with minimal or no adverse social or environmental impacts.
FI-A = Financial Institutions High Risk; Financial Institutions with business activities or projects with significant potential adverse social or environmental impacts or risks.
FI-B =Financial Institutions Medium Risk; Financial Institutions with business activities or projects with limited potential adverse social or environmental impacts or risks.
FI-C =Financial Institutions Low Risk; Financial Institutions with business activities or projects with minimal or no adverse social or environmental impacts or risks.

C/C
Website of the customer https://c88fin.com/

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