Go-Jek buys fintech startup Coins.ph for $72M ahead of Philippines expansion
(WorldNews Indonesia)

Ride-hailing startup Go-Jek’s expansion into the Philippines ran into problems earlier this month over its ownership structure, but that isn’t deterring the Indonesian company from investing into the market. Today, Go-Jek announced that it has acquired local fintech company Coins.ph through “substantial investment� which gives it a majority stake in the business. The deal is officially undisclosed, but TechCrunch understands from two industry sources that Go-Jek paid $72 million. The startup claims five million registered users in the Philippines, where it offers a mobile wallet that covers payments, phone top-up, bill payment, public transport rides and more....