Tencent takes a stake in an Argentinian fintech startup
Posted On April 26, 2019
The Argentinian mobile payment app Uala recently received an investment of an unspecified amount from Tencent, along with other investors including Goldman Sachs and billionaire George Soros. The financial bond will facilitate Uala to collaborate with the Chinese social service and payment solution provider, which will help expand its market share by furthering app development. Despite the sluggish local economy, Chinese tech giants are looking outwards seeking overseas opportunities with great potential, where South America with a small techno-literate population seems to be a good option.