Tencent, Primavera to fund grocery delivery app: Bloomberg News

Jun 29, 2020 1:04 pm

Tencent Holdings Ltd and private equity Primavera Capital are joining a funding round for Chinese grocery delivery app Xingsheng Youxuan that values the startup at $3 billion, Bloomberg reported on Monday, citing people familiar with the matter.

Tencent, which also backs grocery-delivery rival Missfresh, has not yet decided on how much money it would invest, the report here said, citing a source.