Japan messaging giant Line raising $1.3bn for fintech and AI push

Mobile messenger app company Line Corp is raising ¥148 billion ($1.3bn) in convertible bonds to pursue financial industry partners in areas such as online securities brokerage, insurance sales, consumer loans, and other financial services. There’s also a plan to promote adoption of its AI platform, LINE Clova. By 2021, Line expects to spend almost $900 million on investing in the company’s fintech business, with the rest allocated for artificial intelligence, including R&D.

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