Singapore VC Monk’s Hill invests in Indonesian website CekAja

Snapshot of CekAja website.

Singapore-based Monk’s Hill Ventures has invested in CekAja, a financial products and services comparison website based in Indonesia.

An industry source told DEALSTREETASIA of the development, although the investment value was not made clear. Monk’s Hill did not comment on this when contacted via email.

CekAja was set up in 2013, along with several similar websites that mushroomed to tap into the growing middle class of Indonesia.

The website collaborates with many notable banks and insurers to offer extensive financial options for its users. The range of financial products CekAja compares are personal loans, credit cards, deposits, and syariah, a deposit that follows Islamic principles. Other services like mortgages, vehicle financing, vehicle insurance, property insurance, life insurance, and electronics insurance have also been rolled out.

The website is founded under Compare88 Group Pte Ltd, a financial and insurance portal which also started Philippines-based eCompareMo.

It is believed that the Monk’s Hill, an early stage venture capital firm, is also pushing for a fund close in the next two months.

The VC’s website lists 38 digital companies its team has invested in and built. Among them are Lazada, Reebonz, Zalora, FoodPanda and Match.com.

Monk’s Hill Ventures launched a $80 million venture fund in May 2014, with a team of seasoned entrepreneurs focused on early stage technology startups across Asia.

The partnership comprises Monk’s Hill managing directors Ong Peng Tsin, Lim Kuo-Yi, partner Stefan Jung, and special advisor Thomas Clayton.

In a December Tech In Asia report , Jung confirmed that the firm had, at that point, an outlay of nearly $100 million to be invested into Series A and B deals, especially in emerging markets like Indonesia.

The firm has also set up an office in the capital of Southeast Asia’s most populous country. It’s Jakarta based team has also addressed a few startup conferences in the country.

The partners of Monk’s Hill Ventures have built numerous Silicon Valley and Asian VC-backed companies over the past two decades, with operating experience in all of the major countries like China, Japan, India and Indonesia.

The firm viewed Southeast Asia to be ripe for an explosion of leading technology companies, driven by a confluence of favorable macroeconomic conditions, exciting talent and available capital: it said in a press statement.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.