Ant Financial plans to invest USD 73.5 million in Wave Money
On May 18, according to Bloomberg, Ant Group and Wave Money, a myanmar mobile financial services enterprise, reached strategic cooperation. Ant Financial plans to invest USD 73.5 million in Wave Money. 1) Ant Group will use technology and experience to help Wave Money, provide local consumers and small and micro businesses with more convenient and safe mobile payment and digital financial services, and jointly promote the development of inclusive finance in Myanmar. 2) Wave Money is a joint venture jointly established by Norway ’s Telenor Group and Yoma Group (including Yoma Strategic Holdings and Yoma Bank). Yuma Group announced that Ant Group will invest USD 73.5 million to become a non-controlling shareholder of Wave Money.