Tencent to Grab Stake in UK Payments Start-up Previse

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Chinese tech giant Tencent hopes to acquire a stake in a fast-growing UK fintech start-up that specialises in business payments.

A Tencent subsidiary is leading a Series B funding round for Previse that will raise over 10 million pounds, according to sources who spoke to Sky News.

The sources that the latest round of fundraising puts the value of Previse at approximately 65 million pounds, with other investors including MasterCard, Hambro Perks and Augentum Fintech.

Previse provides customers with the automated processing of invoices, a service which it claims will “turbo-[charge] B2B commerce by using buyer/supplier trading data.”

Tencent already holds stakes in a slew of other UK tech companies, including digital lender Monzo, Bristol-based ultrasound company Ultraleap, and Oxford-based clean energy start-up First Light Fusion.