Indonesian Go-Jek expands buying fin-tech startup Coins.ph

posted 7 months ago
Indonesia's Go-Jek invested in Filipino payments startup Coins.ph, a week after the country's authorities barred the ride-hailing operator's entry into the Philippines. Today Go-Jek announced its payments platform Go-Pay will partner with Coins.ph, and as part of the deal the Indonesian company has made a "substantial acquisition of shares" in the Filipino company.

Go-Jek, in its challenge to be the regional superapp -- offering everything from transport and financial services to home delivery -- considers payments to be an essential part of the ecosystem. The Indonesian unicorn is said to be finalizing a $2 billion funding round backed by existing investors Google, Tencent Holdings and JD.com, among others; with a $9 billion valuation.
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