Empowering Ecosystems: An Inside Look at Endeavor's Impactful Entrepreneurship with Coins.PH

Endeavor, a global non-profit organization, is dedicated to aiding High Impact Entrepreneurs (HIEs) in emerging and underserved markets. Chosen by Endeavor's network of seasoned professionals, the startup community comprises HIEs who receive an array of resources and assistance. This encompasses guidance from experienced business leaders, access to funding, and networking opportunities with fellow HIEs. This collective of entrepreneurs within the Endeavor community serves as a catalyst for economic advancement. Their contributions include the creation of millions of jobs, the generation of substantial revenue, and the inspiration of a new wave of aspiring entrepreneurs. 

Among these remarkable startups is Coins.ph, a pioneer fintech brand in the Philippines. This company was one of the first mobile wallets in the country, and holds the distinction of being the first Asian fintech platform using blockchain tech to secure Virtual Currency and Electronic Money Issuer licenses from a central bank. With that, why don’t you join me in learning more about Endeavor and Coins.ph with Ron Hose, an Entrepreneur, Founder, and Tech Investor.

Given your journey as an entrepreneur, how has this led to where you are now?

We sold Coins in 2019, but I stayed onboard for almost two years to transition management of the company to the acquirer. When I left Coins.ph, it was the peak of the pandemic, and I have since been focused on investing into other early stage startups and supporting the growth of other entrepreneurs in the ecosystem both as an Endeavor mentor and an advisor to several companies.  I’ve also  served on various  boards such asf UnionBank, UnionDigital, and  7-Eleven Philippines.  

Since you founded Coins back then, what made you so interested in the Philippines as a market to do business in? What potential did you see when you were starting Coins?

From a personal point of view, the thing that drew me to the Philippines  was the opportunity to use technology in a way that improves the day to day lives of millions of people. Technology can be used to improve the quality and increase the reach of the most basic services - finance, commerce, medical, and education.  This is what got me excited to build Coins.ph, and this is what continues to excite me today. 

From the business perspective, there are also quite a few factors that make the Philippines an attractive market for tech entrepreneurs: It has a large market, fairly young demographic, fast growing economy, Filipinos are very tech and internet savvy, and English is a widely spoken language. It’s also a great getaway for the rest of Southeast Asia if you are planning a regional play. 

How did your view of the Philippines change after all these years? What’s your view of the current ecosystem?

A lot has changed in the 10 years that I've been in the Philippines. I think that the tech ecosystem is much more mature now. There are stronger founders and investors that are investing in the country, more venture funding coming in, more service providers, more tech talent, everything has moved forward in a good way.  Even with all of this, there are still plenty of opportunities for transformation with technology. If you are an entrepreneur seeking to have a high impact with your work, I think that the Philippines is going to continue to be one of the more rewarding places to work in. 

How was Endeavor instrumental in your whole entrepreneurial journey?

Around 2017-2018, we started having conversations with Endeavor. During that Coins was growing very fast. Coming from Silicon Valley, I was trained in a very specific doctrine of how tech businesses are built and how they are scaled. Those frameworks are very helpful. But they're not always the appropriate frameworks when you're working in an emerging market. To grow coins, we needed to do a lot of things that were very specific to the Philippines. We needed to really know and understand the environment in which we were operating in. Endeavor’s network in the Philippines consists of strong local entrepreneurs as well as successful business people from more traditional backgrounds. Being able to get their perspective on how to operate, and adjust to the local market were instrumental in shaping and adjusting our growth strategy.

Why do you pay it forward?

Entrepreneurship is maybe one of the most impactful ways of moving things forward and making things better for every Filipino. Being able to work with other entrepreneurs and helping  their businesses grow is very rewarding and gives a strong sense of community.

I really believe that a rising tide helps lift all shapes. In this case, the tide is us. It’s the entrepreneurial community. The more local founders are getting funded, the easier it is for the next local founder to get funded. Working together, we are not only building stronger startups, we are also developing the next generation of talent with the necessary skills and expertise to build fast growing companies. In the end,  everyone benefits together from each other’s growth and success. I enjoy working with other founders, and being there to help them. People were there to help me, I'm there to help others and hopefully at the end, something positive comes out of it for everyone.

Ron Hose is an Entrepreneur, Founder, and Tech Investor. He is one of the entrepreneurs under Endeavor’s wide and credible network. He's made investments in several enterprises like Honest and Quona Capital and is the creator of noteworthy ventures like Coins.ph and TokBox. He also holds a board position at 7-Eleven Philippines and Plastic Credit Exchange. Ron’s primary mission is to focus on helping develop the startup ecosystem in the Philippines by providing mentorship and investments to worthy companies and businesses. With fervor and dedication, he is passionate in making the Philippines a better place to live for Filipinos.