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

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