Alibaba’s Ant Financial has Raised $14 Billion in $150 Billion Valuation

Alibaba’s Ant Financial has Raised $14 Billion in $150 Billion Valuation

Ant Financial, the largest online financial platform in China and a unit of Alibaba, has raised $14 billion in Series C equity financing from global investors.  The $14 billion is possibly the largest private funding raised, will value the company at around $150 billion in market value.  (Market Cap on 8.6.2018: Goldman Sachs $87 billion, Citigroup $174 billion, JP Morgan $376 billion, Alibaba $537 billion)

” Alibaba’s Ant Financial has Raised $14 Billion in $150 Billion Valuation “

Ant Financial (Ant Small and Micro Financial Services Group Co.), which owns Alipay, was spinned off from Alibaba Group before its 2014 IPO.  Brands under Ant Financial Services Group include Alipay, Ant Fortune, Zhima Credit, MYbank and Ant Financial Cloud.  Alipay, together with its global partners, served approximately 870 million annual active users globally and over 15 million small businesses in China.

Investors in the $14 billion round includes Canada Pension Plan Investment Board with a reported $600 million investment, Singapore’s sovereign wealth fund (GIC and Temasek), Malaysia’s sovereign wealth fund Khazanah Nasional and leading equity firms Warburg Pincus, Silver Lake General Atlantic and Carlyle Group.  Deutsche Bank, Citi, China International Capital Corporation, CITIC Securities, J.P. Morgan and Morgan Stanley are the appointed financial advisors to Ant Financial and Ant International for the Series C equity financing.

Ant Financial is anticipated by media reports to do an initial public offering (IPO) in 2019.

Source: Ant Financial, Reuters, Bloomberg

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Ant Financial to Raise at Least $10 Billion at $150 Billion Valuation

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).

Sources: Bloomberg, SCMP

 

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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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Jack Ma’s Yunfeng & Ant Financial Buy MassMutual Asia for $1.66 Billion

Jack Ma’s Yunfeng & Ant Financial Buy MassMutual Asia for $1.66 Billion

Jack Ma’s related companies, Yunfeng Financial Group and Ant Financial Services Group, and other strategic investors have entered into a transaction to buy MassMutual Asia $1.66 billion in cash and equity .  MassMutual International will receive approximately USD 1.01 billion in cash (HKD 7.9 billion) and 800 million shares of Yunfeng FG at HKD 6.50 per share (total value of approximately USD 668 million), which is equivalent to approximately 24.8 percent of the expanded share capital of Yunfeng FG.

” MassMutual Asia Sold for $1.01 billion and 800 million shares of Yunfeng FG (valued at $668 million) “

Yunfeng Financial Group will hold 60% stake in MassMutual Asia and the remaining 40% held with strategic investors (40%), Meyu International Company Limited (9.8%), City-Scape Pte. Ltd. (managed by GIC’s private equity group) (7.5%), Ant Financial Services Group (5%), Sheen Light Development Limited (5%), SINA Corporation (5%), Harvest Billion International Limited (4.9%) and Giant Investment (HK) Limited (a wholly owned subsidiary of Giant Network Group) (2.8%), will hold the remaining interest in MassMutual Asia.

 

 

About MassMutual

MassMutual, headquartered in Springfield, Mass., is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long term care insurance, annuities, retirement plans and other employee benefits. The company’s major affiliates include asset management firms Barings LLC, and OppenheimerFunds, Inc.; as well as First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; and The MassMutual Trust Company, FSB. For more information, visit .

Visit: www.massmutual.com

 

About Yunfeng Financial Group

Yunfeng FG is a leading Asia focused investment and financing platform principally engaged in the provision of financial services, including securities brokerage, wealth management and investment, corporate finance consultancy, ESOP (Employee Stock Ownership Plan) administration, and investment research. Combining its knowledge and experience in the internet business and the financial field, Yunfeng FG has developed and uses fintech to deliver a growing number of its services in the fields of securities trading, wealth management, employees’ shareholding service and investment research. Certain members of Yunfeng FG are licensed to carry out type 1 (dealing in securities), type 4 (advising on securities), type 6 (advising on corporate finance) and type 9 (asset management) regulated activities under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Visit: www.yff.com

 


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Alipay Maybe Worth More than Goldman Sachs

Alipay Maybe Worth More than Goldman Sachs

Alipay was intended as a way for customers for Alibaba to purchase goods online. Now the business’s parent company may be worth $75 billion or more than Goldman Sachs Group Inc.

“Alipay’s parent company may be worth $75 billion or more than Goldman Sachs Group Inc.”

~Bloomberg

Ant Financial, Alipay’s parent company was valued at about $60 billion in June when it raised $4.5 billion. Estimates has it that most of Ant Financial’s value is in Alipay with a worth of $50 billion. The rest of the value comes from its micro loans, wealth management units, investments and cash on hand. This is more than Goldman’s $70 billion market value as of Monday.

Related Reports: Bloomberg, Sydney Morning Herald

 

About Alipay

Alipay.com is a third-party online payment platform with no transaction fees. It was launched in China in 2004 by Alibaba Group and its founder Jack Ma.Alipay says it operates with more than 65 financial institutions including Visa and Mastercard to provide payment services for Taobao and Tmall as well as more than 460,000 Chinese businesses.

Visit: Alipay


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Ant Financial Plans to Buy 20% Stake in Thailand’s Ascend Money

Ant Financial Plans to Buy 20% Stake in Thailand’s Ascend Money

Ant Financial is planning to purchase a 20% stake in Thailand’s Ascend Money in a bid to become a key financial services player in Southeast Asia. An investment into Ascend Money, parent of True Money and Ascend Nano would help Ant Financial expand its online payments and small loans business in Southeast Asia.

“The company will spend 6 billion baht (US$170 million) on expansion this year, 83 percent of which will be spent outside of Thailand.”

~ Ascend Group Chief Executive Officer Punnamas Vichitkulwongsa

Ascend Group Chief Executive Officer Punnamas Vichitkulwongsa in April told the Bangkok Post the company will spend 6 billion baht (US$170 million) on expansion this year, 83 percent of which will be spent outside of Thailand.

Related Reports: Bloomberg, Reuters

 

About Ascend Group

We provide scalable, cost-effective end-to-end eCommerce platform and services, with fulfillment solution that enhances delivery efficiency for both online and offline sales channels, ePayment and lending, eService business providing comprehensive digital marketing solutions, world-class data centers and cloud services and venture capital.

Visit: Ascend Group

 

About True Money

Thailand’s premier online payment brand, encompassing multiple solutions that help facilitate various transactional needs. TrueMoney provides several platforms for the community including;

  • Wallet by TrueMoney – a smartphone application enabling people to manage their daily transactional needs
  • WeCard by MasterCard – a virtual and physical debit card brand for both online and physical payments designed specifically with the user in mind, and seamlessly integrated within Wallet
  • TrueMoney CashCard – Built for online gamers in mind, CashCard facility provides an easy way to convert physical money into virtual cash. Available nationwide at all 7-Eleven stores, CashCard can be also used to Top Up cash on TrueMoveH’s Prepaid mobile services
  • PayPoint & PayPoint Auto – Designed for self-services (Kiosk) and rural areas through partner, PayPoint provides people with access to bill payments.

Visit: True Money


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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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