The two companies announced the partnership earlier in August 2018, without sharing the size of the investment.
SoftBank’s Vision Fund will own 51% of the venture that aims to sell the China-based company’s technology to financial and healthcare businesses in Asia-Pacific. ZhongAn will hold a 49% stake in the venture, which will have an initial capital of USD 200 million.
Earlier in 2018, SoftBank Group has announced that it will team up with Paytm to launch a mobile payments service in Japan.
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