BUENOS AIRES (Reuters) – Chinese tech giant Tencent Holdings Ltd has invested in Argentine mobile banking service Uala, which also counts George Soros and Point72 Ventures LLC among its investors, the start-up’s founder said.
FILE PHOTO: Pierpaolo Barbieri, founder of Argentine mobile banking startup Uala, at his company’s offices in Buenos Aires, Argentina November 13, 2017. REUTERS/Marcos Brindicci/File Photo
Uala founder Pierpaolo Barbieri said the company planned to collaborate with the Chinese social media-to-gaming giant to further develop its app. He declined to disclose the amount of investment, but said it significantly raised Uala’s valuation.
Chinese tech firms have been ramping up their interest in Latin America, from ride-hailing company Didi Chuxing to telecoms firm Huawei and search engine Baidu Inc.
Tencent, one of Asia’s most