Ant Financial to Raise at Least $10 Billion at $150 Billion Valuation
Ant financial, one of China’s leading financial services technology company and an affiliate company of Alibaba Group, is raising at least $10 billion in capital, valuing the company at more than $150 billion. Temasek Holdings, Singapore’s Sovereign Wealth Fund, is believed to be a lead investor among other leading institutional investors.
“ Alibaba Group Ant Financial to Raise at Least $10 Billion at $150 Billion Valuation “
Ant financial was officially founded in 2014, and was originally founded by Alibaba Group in 2004 as Alipay. In 2007, Alipay had over 50 million users, while China only had 30 million credit card users. In 2016, Ant Financial completed its Series B fundraising, raising $4.5 billion in funding. Ant financial has 3 key businesses in payments, wealth management and lending. In recent times, the company have invested into Paytm (India) and Ascend Money (Thailand).
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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