CekAja Owner Group Gets Series A Funding From Monk's Hill Ventures

Compare88 which houses the price comparison service CheckAja and eCompareMo (in the Philippines) announced the acquisition of an undisclosed amount of Series A funding from Monk's Hill Ventures based in Singapore. Monk's Hill Managing Partner Peng T. Ong and Monk's Hill Partner Stefan Jung will join Compare88's board.

Compare88 said that this funding will be used to increase its growth in Southeast Asia, develop the team, and build on its technology. Compare88 is the first startup to receive funding from Monk's Hill Ventures since its founding a year ago.

CekAja Founder and CEO JP Ellis said in a press release, “We are very pleased to work with Monk's Hill Ventures and its team of entrepreneurs who are full of entrepreneurship. We share a long-term vision and belief that online comparison portals and brokerage services will be popular among consumers because they are more efficient, fast and transparent. Online services will also enhance consumer protection and aid in better economic development.”

Peng T. Ong added, “Compare88 has grown rapidly to become a regional leader in this field. And, we look forward to working with the team to build a true regional hub over the next few years.”

According to our conversation with Ellis a month ago, CekAja this year targets to earn 2 million unique visitors every month with high quality traffic.