Chat app Line to raise $1.33BN via convertible bonds to double down on financial services

Move over stickers and games: Japanese messaging app firm Linehas announced it’s raising around 148.1 billion yen ($1.33BN) through convertible bonds to fund aggressive expansion into the financial services business, Reuters reports. 
Line said it plans to spend most of the money on promoting its Line Pay service and for other new financial services by the end of 2021.
The messaging platform has been involved in payment offerings for some years, launching Line Pay at the end