Listed AgriNurture Inc. is purchasing a majority stake in financial technology (fintech) company Pay8 Inc. from the DFNN Group as part of its efforts to reach more farmers and food growers in the country. The corresponding value of the 51-percent stake is P377.91 million, based on current valuation. The financial platform that will be introduced is anticipated to reach the farmers mostly in the unserved rural areas of the country,” ANI said. Hatchasia and Pay8 are in the business of information and technology and provide multiple systems advertising platforms to various industries. “ANI’s banks would also benefit having access to the DFNN Group’s digital core banking platforms and secure identification platforms,” it added.

Source: Manila Times July 21, 2020 16:57 UTC