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

Wednesday, May 30, 2018

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)

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Finance
Tags
digital finance, fintech, investors, mobile finance, mobile money, private equity