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Telstra backs e-commerce firms in Indonesia, Philippines

Australian telco Telstra Corp. Ltd.'s venture capital arm is investing ine-commerce companies in Indonesia andthe Philippines, ZDNet reported Sept. 30.

The investment was done through a Series B funding round byfintech firm Compare88, which owns and runs e-commerce sites CekAja.com in Indonesiaand eCompareMo.com in the Philippines. Financial details were notdisclosed.

According to the report, the investment will also createbusiness collaboration opportunities for enterprise services with Telstra'sIndonesian joint venture, Telkomtelstra.