News, Technology

Alibaba Affiliate Ant Financial Raises US$4.5 Billion

Alibaba Affiliate Ant Financial Raises US$4.5 Billion

China’s biggest e-commerce company Alibaba Group Holding’s affiliate Ant Financial Services Group has closed the world’s largest private fundraising round for an Internet company at $4.5 billion, paving the way for a long-expected initial public offering. This values the company at roughly $60 billion.

“ China’s biggest e-commerce company Alibaba Group Holding’s affiliate Ant Financial Services Group has closed the world’s largest private fundraising round for an Internet company at $4.5 billion ”

~ The Wall Street Journal

Ant Financial, which operates Alipay, China’s biggest online-payments platform by transaction volume, raised its latest funding round from a clutch of investors including a Chinese sovereign-wealth fund and the country’s biggest insurers, according to people familiar with the situation

Related Reports: The Wall Street Journal, Fortune, CNBC

 

About Ant Financial

Ant Financial Services Group is focused on serving small and micro enterprises as well as consumers. With the vision “bring small and beautiful changes to the world,” Ant Financial is dedicated to building an open ecosystem of Internet thinking and technologies while working with other financial institutions to support the future financial needs of society. Businesses operated by Ant Financial Services Group include Alipay, Yu’e Bao, Zhao Cai Bao, Ant Fortune, Ant Check Later, Ant Financial Cloud, Sesame Credit and MYbank.

Visit: Ant Financial


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