SYDNEY, AUSTRALIA: Fatfish Group Limited (ASX:FFG) introduced that its subsidiary, ASEAN Fintech Group Ltd will acquire 87.44% of JazzyPay Inc, a digital funds supplier within the Philippines, at US$1.57 million (A$2.1 million). The acquisition values JazzyPay at US$1.8 million (A$2.4 million).
The acquisition will be satisfied completely through the issuance of new shares in AFG and additional signifies AFG’s expansion because the fintech arm of FFG into the Philippines. This is additionally in line with the Company’s imaginative and prescient of making inroads into the dynamic markets within the Southeast Asian area with its multi-vertical fintech options and services. The Philippines will become one of many top dynamic markets within the Southeast Asian area the place FFG and AFG are present, alongside Malaysia, Singapore, Indonesia and Thailand.