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C88 Financial Technologies is a technology company.
Caxe Technologies, formerly C88 Financial Technologies, develops and provides sophisticated financial services technology, primarily targeting blue-chip B2B clients. The company builds digital banking software and risk management solutions, leveraging data and AI to deliver comprehensive infrastructure. Their approach centers on offering robust technological frameworks that empower financial institutions to optimize their operations and service delivery.
The company was co-founded in 2013 by John Patrick Ellis, Karl Knoflach, and Stephanie Chung. Initially, under the C88 brand, the venture focused on creating online marketplaces that connected consumers with financial products from banks and insurers across Southeast Asia. J.P. Ellis, who served as CEO, brought a background in private equity and finance, driven by an insight into enhancing access to banking and insurance products.
Today, Caxe Technologies serves a diverse portfolio of institutional clients, providing the underlying technology that supports their financial product ecosystems. The company’s vision is to continue enabling financial institutions with advanced data-driven and AI-rich solutions, enhancing efficiency and expanding the reach of financial services. They aim to be a pivotal technology partner in the evolving financial landscape.
C88 Financial Technologies has raised $28.0M across 1 funding round.
C88 Financial Technologies has raised $28.0M in total across 1 funding round.
C88 Financial Technologies has raised $28.0M in total across 1 funding round.
C88 Financial Technologies's investors include Ben Elliott GAICD, Blackbird Ventures Australia, Telstra Ventures, DEG, FengHe Fund Management, InterVest, Kejora Capital, Kickstart Ventures, Muang Thai Fuchsia Ventures, Pelago Capital, responsAbility Investments.
C88 Financial Technologies is a leading Southeast Asian fintech company headquartered in Singapore with major operations in Indonesia and the Philippines, serving over 20 million customers since its founding in 2014[1][4][7]. It operates high-traffic, licensed financial e-commerce platforms like CekAja.com (Indonesia) and eCompareMo.com (Philippines), offering integrated financial education, product comparison, and application services for loans, insurance, investments, and more to retail and small business users[1][7]. The company also provides B2B solutions including credit data, risk management, big data analytics, machine learning tools, digital banking software, and regtech customized for regional financial institutions, employing over 600 people across its markets[1][2][4][6].
As a venture and private equity-backed firm (with $28M raised, at Series C-II stage), C88 targets underserved consumers and businesses in FinTech, InsurTech, and PropTech, solving access to financial products in emerging markets through transactional marketplaces and tech-driven risk solutions[1][2][3][6].
Founded in 2013 or 2014, C88 Financial Technologies emerged to address financial inclusion in Southeast Asia by launching consumer-facing marketplaces CekAja.com in Indonesia and eCompareMo.com in the Philippines[1][6][7]. Specific founders are not detailed in available sources, but the company quickly scaled to serve millions, backed by investors like Mountain Partners and DEG Invest[1][7]. Early traction came from its regulated platforms enabling seamless shopping for financial products amid rising digital adoption; it has evolved from pure consumer comparison sites to a diversified tech provider, including B2B analytics and risk tools, with a rebrand to Caxe Tech noted in some records while retaining C88 branding[1][6].
Note: Headquarters shifted from Jakarta-centric to Singapore-based as operations expanded, reflecting regional growth[1][4].
C88 rides the fintech boom in Southeast Asia, where digital finance penetration is surging due to smartphone ubiquity, young demographics, and post-pandemic shifts to online services—timing aligns with regulatory support for licensed platforms in Indonesia and Philippines[1][7]. Market forces like unbanked populations (hundreds of millions regionally) and demand for affordable credit/insurance favor its marketplaces, while B2B tools address banks' needs for data-driven decisions amid rising loan volumes[1][6]. It influences the ecosystem by powering financial inclusion, competing with players like MoneySmart and MoneyHero, and enabling smaller institutions via tech outsourcing—amplifying startup growth in adjacent regtech and analytics[6].
C88 (potentially transitioning to Caxe Tech) is poised for deeper B2B expansion in digital lending and regtech, leveraging its data moat amid AI-driven fintech evolution and SEA's projected $1T digital economy by 2030[6]. Trends like embedded finance and cross-border expansion will shape it, potentially boosting influence through partnerships or IPO paths, solidifying its role as a regional fintech backbone from its proven 20M-user foundation[1][6].
C88 Financial Technologies has raised $28.0M across 1 funding round. Most recently, it raised $28.0M Series C in July 2018.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jul 1, 2018 | $28.0M Series C | Ben Elliott GAICD | Blackbird Ventures Australia, Telstra Ventures, DEG, FengHe Fund Management, InterVest, Kejora Capital, Kickstart Ventures, Muang Thai Fuchsia Ventures, Pelago Capital, responsAbility Investments |