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China's Tencent invests $180 million in Brazil fintech Nubank

October 8, 2018 8:39 PM
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SAO PAULO (Reuters) - Chinese gaming and social media firm Tencent Holdings Ltd (0700.HK) paid $180 million for an undisclosed minority stake in Brazilian financial technology company Nu Pagamentos SA, both companies said on Monday.

The move marks Tencent’s debut in Latin America’s largest economy at a time when Nubank, as the company is known, is preparing to make consumer loans by year end, going beyond its current mainstays of fee-free credit cards and digital payment accounts.

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