Chinese tech giant Tencent has made its debut investment in Brazil’s fintech sector with the acquisition of a minority stake in Nu Pagamentos SA, also known as Nubank.
Both companies have announced that Tencent obtained an undisclosed minority stake in Nubank for a consideration of USD$180 million, comprised of a $90 million capital increase as well as the payment of $90 million for equity from existing shareholders.
Read more … source:chinabankingnews