April 24, 2019 |
China's Tencent Holdings plans to take a stake in Argentine mobile banking startup Ualá, whose backers include George Soros, Goldman Sachs and the family office of hedge fund manager Steve Cohen.
The investment comes six months after the Shenzen-based gaming and social media firm paid $180m for a minority stake in Nubank, a digital bank and credit card operator in Brazil.
Ualá CEO Pieropaolo Barbieri told LatinFinance that Tencent's investment will help the company to grow after it launched an
Chinese tech conglomerate is the latest big name investor in the Argentine mobile banking startup