Singapore based platform for lenders to reach new customers has raised $28m in venture financing, led by Experian.
The startup was founded in 2013 and it operates services in Indonesia and the Philippines — CekAja.com and eCompareMo.com, respectively — which have collectively served over 50 million customers through a mixture of smaller loans paid back over 6-18 months and longer installment-based plans that run from 18-32 months. Following this investment, it plans to also open a business in Thailand — the support of Muang Thai is sure to help there — as part of its mission of opening consumer financing products up to consumers in Southeast Asia. More generally, the capital will go towards expansion, particularly around consumer marketing.