Deals
Tencent Takes a Stake in U.K. Bank Monzo’s Latest Funding Round
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Tencent Holdings Ltd., the Chinese tech giant, took a stake in Monzo Bank Ltd. as part of a funding round that values the U.K. fintech at more than $4.5 billion.
Tencent joined a round that raised $600 million in new investments, led by the Abu Dhabi Growth Fund, according to a person briefed on the matter. A first close of the funding round earlier this month featured existing investors Accel and General Catalyst.