Tencent purchased a 5% stake in Afterpay.
“We feel very privileged to welcome Tencent as a significant shareholder in our company. Being able to attract a strategic investor of this caliber is extremely rewarding and a testament to our team and the strength of our differentiated business model,” said Afterpay co-founders Anthony Eisen and Nick Molnar. “Tencent’s investment gives us the opportunity to learn from one of the world’s most successful digital platform companies.
“Being able to leverage Tencent’s extensive experience and network is valuable, as is the potential for collaboration in areas such as technology, geographic expansion and future payment options on the Afterpay platform. »
Tencent is one of the world’s largest internet companies and owns communications platform WeChat, as well as mobile payment platform Weixin Pay Service, which facilitates 1 billion commerce transactions per day. Tencent is listed on the Hong Kong Stock Exchange.
“We are pleased to become investors in Afterpay,” said James Mitchell, chief strategy officer at Tencent. “In China, we operate the leading digital payments service and a rapidly growing fintech platform, and outside of China, we have actively invested in pioneering fintech companies, providing us with unique insight into emerging fintech services. »
“Afterpay’s approach sets us apart not only because of the attractive features of its business model, but also because its service aligns very well with the consumer trends we see developing globally in terms of Afterpay’s customer-centric, no-nonsense approach and integrated retail presence. and the ability to add significant value to its merchant base.
