Philippines based blockchain-enabled mobile payments platform Coins.ph has raised a further $5m in Series A funding from Naspers Ventures Division, bringing the company's total Series A funding to $9.4m. Coins.ph allows the people to access financial and crypto currency services from their mobile device.
With the fresh inflow of funds, the startup will focus on boosting its regional growth. In addition, it will be setting up more cash-based services and partnerships to further serve its customers. James Caviness, Vice President and Chief Product Officer of Naspers business PayU, will be joining the firm as a board member. In a statement, he said, Coins has done an excellent job of providing consumers with easy, cost-effective access to core financial services. With its secure, scalable platform, built on exciting and potentially disruptive blockchain technology, we expect Coins to continue to grow and expand across Southeast Asia.