Google to buy Mizuho-backed fintech startup - report

Thursday, 08. July 2021 11:36

Google intends to enter the financial services sector in Japan by acquiring Pring Inc., a startup backed among others by Mizuho Bank, Ltd., Nikkei reported on Thursday.

The US giant is looking to buy all the startup's shares in a deal valued between $180 million to $270 million, the report read.

"Currently, Google Pay in Japan operates in partnership with major credit and prepaid card brands. By having" Pring, and the startup's "network, Google will be able to operate financial services on its own, rather than on behalf of those partners," the outlet explained.

Related Links: Mizuho Financial Group Inc.Alphabet Inc.Alphabet Inc.
Author:
Breaking the News / BU