Chris Wilson recently advised Coins.ph (a Philippines based startup) on its US$5m series A investment round, led by Accion Frontier Inclusion Fund (managed by Quona Capital). Innovation Endeavours, Pantera Capital, Digital Currency Group, Wavemaker Labs, Global Brain, BeeNext and Rebright Partners also participated in the round, along with some existing shareholders that include Kickstart Ventures and Ideaspace Foundation.
Coins.ph uses blockchain technology to provide an alternative banking system to unbanked individuals in Southeast Asia. Its financial services include money remittances, bill payments and mobile credit top-up. Coins.ph is also involved in a push to increase the use of Bitcoin in the region.
Coins.ph co-founder and CEO Ron Hose has said that the funding will be used primarily to fund growth in their existing markets.
by chris wilson, 27 October 2016