Cermati takes $1.9m for financial service discovery

fintech insurtech wealthtech regtech ai cybertech esg news
fintech insurtech wealthtech regtech ai cybertech esg news

Indonesian financial services comparison site Cermati has raised $1.9m in its Series A round.

The investment was led by East Ventures with existing backer Beenos Partners also participating.

The Jakarta-based startup’s platform allows users to search, compare and apply for financial services. Cermati claims it saw 2.5m monthly visitors in June.

By making financial products easier to discover and apply for the company hopes to improve access to services such as loans credit cards in the region.

It says it has facilitated more than $4.5m worth of consumer loans since it launched in 2015.

The company will use the new funding to expand its team to accelerate its growth.

Cermati raised an undisclosed seed round in July last year from the same investors.

Copyright © 2016 FINTECH GLOBAL

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.