October 11, 2018 |
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
Online gaming company provides $90m through a capital increase and another $90m for secondary stock in the Brazilian fintech