Afterpay Limited is pleased to welcome Tencent Holdings Limited (Tencent) as a substantial shareholder of Afterpay, confirmed by the lodgement of a notice of initial substantial holder on the Australian Securities Exchange on 1 May 2020.
Tencent is a listed company on the Hong Kong Stock Exchange. The company provides Internet value-added services, including digital entertainment, online advertising, and FinTech and cloud services to users. Its communications platforms include Weixin, WeChat and QQ. Its Weixin Pay service is the leading mobile payments platform in China, facilitating an average of over 1 billion commercial transactions per day.
Anthony Eisen and Nick Molnar, Co-founders of Afterpay commented:
“We feel very privileged to welcome Tencent as a substantial shareholder in our business. Being able to attract a strategic investor of this calibre is extremely rewarding and is a testament to our team and the strength of our differentiated business model.
Read More: Fintech Europe Selects Ten Startups for its Fifth Batch
“Tencent’s investment provides us with the opportunity to learn from one of the world’s most successful digital platform businesses. To be able to tap into Tencent’s vast experience and network is valuable, as is the potential to collaborate in areas such as technology, geographic expansion and future payment options on the Afterpay platform.
“We remain focused on delivering value for our new and existing shareholders over the long term.”
Read More: Jack Henry & Associates Launches Core-Integrated Accounts Receivable Financing
