News

SoftBank Vision Fund to put USD 100 mln in joint venture with ZhongAn

Tuesday 28 August 2018 13:57 CET | News

Japan-based SoftBank Group has planned to invest USD 100 million in a joint venture with the international arm of China`s ZhongAn Online P&C Insurance.

The two companies announced the partnership earlier in August 2018, without sharing the size of the investment.

SoftBank’s Vision Fund will own 51% of the venture that aims to sell the China-based company’s technology to financial and healthcare businesses in Asia-Pacific. ZhongAn will hold a 49% stake in the venture, which will have an initial capital of USD 200 million.

Earlier in 2018, SoftBank Group has announced that it will team up with Paytm to launch a mobile payments service in Japan.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: SoftBank Vision Fund, ZhongAn, investment, Asia, payments
Categories:
Countries: World