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South African digital payment platform announces investment from China's Tencent
(Xinhua) 13:16, November 18, 2021
CAPE TOWN, Nov. 17 (Xinhua) -- Ozow, a South African payment service provider, on Wednesday announced series B funding of 48 million U.S. dollars led by Chinese internet giant Tencent.
"This series B funding round will enable us to provide millions more people with easy, fast, and secure alternative payment solutions," according to the South African start-up's latest blog post.
The company also said its service cuts down the process time of the electronic funds transfer transactions from three minutes traditionally to 20 seconds.
The company's series A funding was held in June 2019.
(Web editor: Shi Xi, Liang Jun)
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