China's Tencent invests in Nu Pagamentos

China's Tencent invests in Nu Pagamentos

Game-Changers Brazil

Chinese gaming and social media company Tencent has agreed to pay $180m for a minority stake in the Brazilian fintech Nu Pagamentos, marking the Asian firm's first investment into Brazil. Tencent will inject $90m into the Brazilian firm, known as Nubank, through a capital increase and a further $90m will be used to buy secondary stock from existing shareholders. Nubank in January got a green light from Brazil's central bank to offer consumer loans, a feature it plans to roll out by the end of th

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