TELSTRA VENTURES INVESTS IN LEADING FINANCIAL TECHNOLOGY COMPANY C88 FINANCIAL TECHNOLOGIES

30 SEPTEMBER 2016 – SINGAPORE – Telstra Ventures today
announced a strategic investment as part of leading a Series-B funding round in C88 Financial Technologies Pte Ltd, which owns and operates the
largest consumer financial websites in Indonesia and the Philippines.

Matthew Koertge, Managing
Director Telstra Ventures, said the investment has been driven by the fact that
as more consumers go online and digital disruption transforms the financial
services sector there are some very exciting e-commerce opportunities in markets
like Indonesia and the Philippines.

“C88’s
properties, CekAja.com in Indonesia and eCompareMo.com in the Philippines, are
the largest financial sites in their respective markets, connecting banks and
insurers with consumers across a number of products, including loans, mortgages
and insurance. They offer e-commerce ‘apply now’ functionality to consumers that is directly
linked to the issuing bank or insurer, which means it is easy to use and
creates a new customer onboarding channel for financial institutions,” said Mr
Koertge.

C88 also co-operates
Premiro.com in Indonesia, a licensed insurance
e-brokerage services provider to consumers and small to medium enterprises.

“Across its platforms,
C88 combines a personalised data driven experience for consumers with easy to
use web and mobile experiences, as well as back-office
infrastructure including call centres and sales distribution networks to
complete transactions,” said Mr Koertge.

This is the fourth ventures investment in Asia by
Telstra Ventures over the past 12 months, strengthening Telstra’s presence in a
region that is increasingly a source of world class digital innovation. The
investment in C88 also creates opportunities for collaboration based on the
enterprise services Telstra provides to financial institutions across the
Asia-Pacific region and through Telstra’s joint venture in Indonesia,
telkomtelstra.

J. P. Ellis, co-founder and group CEO of C88, welcomed
the investment from Telstra as the company completed its Series-B financing
round, which include participation from existing investors Monk’s Hill Ventures
and Kejora Ventures. Captii Ventures,Altitude Partners, Jasrag
Investments, and several other international investment groups and high net worth
individuals from Indonesia and Malaysia also participated in the round.

“We are happy to have Telstra leading this funding
round given their significant presence as an enterprise service provider and
their growing reputation as an active participant in the region’s technology
ecosystem,” said Mr Ellis.

“This investment round provides us with the funding
necessary to scale-up our market leadership in Indonesia and the Philippines.
We aim at pushing into mass market branding as we continue to employ our
significant scale and focus to help customers save time and money, help our
partners cost-competitively on-board new customers at scale, and help our key
regulatory partners continue to shape an equitable financial services
technology sector rooted in transparency and inclusion,” said Mr Ellis.