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Tencent Buys a 5% Stake in Afterpay

Tencent Buys a 5% Stake in Afterpay

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FintechNews RoundupUSA
··1 min read

The Chinese tech giant Tencent has purchased a 5% stake in Afterpay worth A$390 million (US$252 million) according to the latest share price; Afterpay is an Australian-based buy-now-pay-later provider that allows payment for goods at retail in interest free installments; Tencent has a prolific investment arm and they had said earlier this year that they would focus more on smart retail and payments platforms in the future; Tencent’s Chief Strategy Officer, James Mitchell, said, “Afterpay’s approach stands out to us not just for its attractive business model characteristics, but also because its service aligns so well with consumer trends”. Reuters

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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