Tencent Buys Stake in UK Business Payments FinTech Previse
Giant Chinese technology holding company Tencent is leading a funding round in British FinTech Previse, SkyNews reported Thursday (April 21).To get more news about latest news about tencent, you can visit shine news official website.
The entire round Series B round Tencent is leading, SkyNews reported, will be about $10.4 million. The investment would value Previse at about $91 million.According to SkyNews, Tencent also holds stakes in British technology companies Monzo, a digital bank, and Ultraleap, a business that uses ultrasound waves to simulate users’ sense of touch.
SkyNews reported that spokesmen for Tencent and Previse declined to comment on the investment.London-based Previse states on its website that its goal is to “turbo-charge B2B commerce by using buyer/supplier trading data.”
Describing its technology, Previse’s website said it can process “corporate and small- and medium-sized enterprise trading data globally and use [artificial intelligence] to predict future revenues and price the risk accurately.”
According to investment data firm Crunchase, Previse already has raised about $25 million through nine rounds.Investors in previous rounds, according to Crunchbase, include Bessemer Venture Partners, Mastercard and Hambro Perks Ltd.
The company’s three co-founders, according to Crunchbase, are: Paul Christensen, Giulio Rossi and Philipp Schoenbucher.Sky News understands that an arm of Tencent is leading a Series B funding round for Previse that will raise just over £10m.Sources said the fundraising would value the UK company at around £65m on a pre-money basis.
It is the latest British tech company to draw funding from Tencent, which has a market value equivalent to hundreds of billions of pounds.The Chinese company's other UK holdings include Monzo, the digital bank, and Ultraleap, a Bristol-based business which uses ultrasound waves to simulate the sense of touch.
It also recently injected capital into First Light Fusion, an Oxford-headquartered company seeking to commercialise a new source of virtually limitless clean energy.
Previse specialises in automated processing of invoices and describes itself as "turbo-charging B2B commerce by using buyer/supplier trading data".The company is run by co-founder and chief executive Paul Christensen.
Its other investors include MasterCard, Hambro Perks and Augmentum Fintech.A spokesman declined to comment on Tencent's investment, while Tencent also declined to comment.
Giant Chinese technology holding company Tencent is leading a funding round in British FinTech Previse, SkyNews reported Thursday (April 21).To get more news about latest news about tencent, you can visit shine news official website.
The entire round Series B round Tencent is leading, SkyNews reported, will be about $10.4 million. The investment would value Previse at about $91 million.According to SkyNews, Tencent also holds stakes in British technology companies Monzo, a digital bank, and Ultraleap, a business that uses ultrasound waves to simulate users’ sense of touch.
SkyNews reported that spokesmen for Tencent and Previse declined to comment on the investment.London-based Previse states on its website that its goal is to “turbo-charge B2B commerce by using buyer/supplier trading data.”
Describing its technology, Previse’s website said it can process “corporate and small- and medium-sized enterprise trading data globally and use [artificial intelligence] to predict future revenues and price the risk accurately.”
According to investment data firm Crunchase, Previse already has raised about $25 million through nine rounds.Investors in previous rounds, according to Crunchbase, include Bessemer Venture Partners, Mastercard and Hambro Perks Ltd.
The company’s three co-founders, according to Crunchbase, are: Paul Christensen, Giulio Rossi and Philipp Schoenbucher.Sky News understands that an arm of Tencent is leading a Series B funding round for Previse that will raise just over £10m.Sources said the fundraising would value the UK company at around £65m on a pre-money basis.
It is the latest British tech company to draw funding from Tencent, which has a market value equivalent to hundreds of billions of pounds.The Chinese company's other UK holdings include Monzo, the digital bank, and Ultraleap, a Bristol-based business which uses ultrasound waves to simulate the sense of touch.
It also recently injected capital into First Light Fusion, an Oxford-headquartered company seeking to commercialise a new source of virtually limitless clean energy.
Previse specialises in automated processing of invoices and describes itself as "turbo-charging B2B commerce by using buyer/supplier trading data".The company is run by co-founder and chief executive Paul Christensen.
Its other investors include MasterCard, Hambro Perks and Augmentum Fintech.A spokesman declined to comment on Tencent's investment, while Tencent also declined to comment.