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Tencent invests in UK fintech

Tencent invests in UK fintech

Chinese ecommerce giant Tencent has led a funding round into London-based fintech Previse.

According to Sky news, the series B investment round is expected to raise $10.4 million, which would value the startup at around $90 million.

Previse operates a business finance service aimed at small and medium businesses, using machine learning.

It has so far raised $25 million through nine rounds of financing.

It is not the first time Tencent has invested in the UK’s tech market. It currently holds stakes in digital bank Monzo and medtech firm Ultraleap.

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