Warren Buffett's Berkshire Hathaway is doing something outside of its closely followed playbook.
The conglomerate, which typically takes stakes in blue chip American companies, has invested roughly $600 million in two fintech companies focused on emerging markets — Paytm and StoneCo, The Wall Street Journal reported Monday. Both investments were led by one of Berkshire's two top money managers, Todd Combs.
The newspaper said Berkshire took a $300 million stake in August in Paytm, India's largest mobile-payments service that claims to have more users than PayPal. Berkshire bought shares in Brazilian payment processor StoneCo when it went public last week.