Warren Buffett has invested around $600 million in two fintech payment firms focused on emerging markets

The US investment company Berkshire Hathaway of the legendary investor Warren Buffett plans to invest in two fintech companies. The conglomerate, which has so far bought stakes in companies with stable positions on the stock markets, has invested nearly 600 million USD in two fintech companies with a focus on emerging markets – Paytm and StoneCo Ltd.

Both financial operations are run by Berkshire Hathaway’s top manager Todd Combs.

In August, the company of Warren Buffett managed to acquire a 300 million USD stake in Paytm. The company is located in India and is behind the country’s most popular mobile pay service.

On the other hand, Berkshire Hathaway is making a similar investment, buying a share from the Brazilian mobile payment company StoneCo, which came out on the stock exchange last week.

So far, Warren Buffett has relied on well-known names like IBM, Coca-Cola and Wells Fargo, which have a long and successful history on the stock exchange.

In August, it became clear that Berkshire Hathaway had increased its stake in Apple’s technology group in the second quarter. In addition, for the first time, Warren Buffett invested money at Goldman Sachs.

This is not the only bank to enter Berkshire’s investment list, with US Bancorp appearing there. Meanwhile, Berkshire is giving up Wells Fargo.

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Source: https://financeandmarkets.com/warren-buffett-invests-in-two-fintech-companies/