Wednesday
May 30
2018

China’s Ant Financial raises $10 billion at $150 billion valuation

By Kane Wu

Ant Financial Services Group, operator of China’s biggest online payment platform by market share, Alipay, has closed its latest funding round having raised $10 billion from a clutch of global and local investors, five people with direct knowledge of the matter told Reuters.

Ant’s first fundraising targeting global money values the firm at $150 billion, the people said, compared with about $60 billion after its previous fundraising in April 2016.

A number of global sovereign wealth funds and private equity firms joined the fundraising as main investors. They include Singapore’s sovereign fund GIC Pte Ltd [GIC.UL] and state investor Temasek Holdings (Private) Ltd [TEM.UL], as well as U.S. private equity firm Warburg Pincus LLC [WP.UL], the people said.

Photo courtesy of John Twohig.

Source: Reuters (link opens in a new window)

Categories
Inclusive Fintech
Tags
Alibaba, Alipay, Ant Financial, China, digital finance, fintech, funding, investors, mobile finance, mobile money, private equity