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January 18, 2019

Go-Jek invests in Filipino digital wallet Coin.ph

Indonesian ride-hailing app Go-Jek has bought a stake in Filipino digital wallet startup Coin.ph.

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Financial terms of the deal were not disclosed, though it is said to involve a substantial acquisition of shares.

Powered by blockchain, Coins.ph facilitates various services such as mobile airtime, remittances, and bill payments.

Go-Jek investment

The company currently has a client base of more than five million and processes over six million transactions on a monthly basis.

Coins.ph founder and CEO Ron Hose said: “Coins.ph and Go-Jek share the same vision that has made each a success in their markets, empowering their customers by giving them lower-cost and more convenient access to services.

“Together, we have a tremendous opportunity and by leveraging Go-Jek’s resources and expertise, we can give Filipinos even more convenience, choice, and access to the services they want.”

Under the agreement, Coin.ph will work alongside Go-Jek’s payments platform Go-Pay to improve access to cashless payments, banking services as well as support financial inclusion in the Philippines.

The management of Coins.ph will retain their existing roles.

Go-Jek founder and CEO Nadiem Makarim said: “With the second largest population and a strong domestic economy, the Philippines is one of the most exciting markets in Southeast Asia. Supporting the success of a local fintech entrepreneurial champion like Coins.ph, with a similar ambition to empower society through innovation and technology, has always been part of our passion for growth.

“Today’s announcement marks the start of our long-term commitment to the Philippines and a continuation of our mission to use technology to improve everyday lives and create a positive social impact.”

 

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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