Chinese tech giant Tencent invests in Argentine mobile banking startup [Reuters]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Reuters
Chinese tech giant Tencent invests in Argentine mobile banking startup - Reuters 2 Min Read BUENOS AIRES (Reuters) - Chinese tech giant Tencent Holdings Ltd has invested in Argentine mobile banking service Uala, which also counts George Soros and Point72 Ventures LLC among its investors, the start-up’s founder said. Uala founder Pierpaolo Barbieri said the company planned to collaborate with the Chinese social media-to-gaming giant to further develop its app. He declined to disclose the amount of Tencent’s investment. Tencent, one of Asia’s most valuable listed companies, announced last year it would boost investments in a number of “key areas” including digital payment, where its service jostles with rival Alipay, backed by Alibaba Group Holding Ltd. Tencent’s own messenger-to-payment app WeChat now has more than 1 billion users in China and has launched in-app services that compete with Apple and Google apps. “We are proud of their interest in Uala and look forward to collaborating
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