Ant Financial Services Group, the Chinese online and mobile payment platform affiliate of Alibaba Group, raised a record $4.5 billion Series B financing.
Backers included the Chinese sovereign wealth fund China Investment Corporation and China Construction Bank.
The round reportedly valued the company at $60 billion.
The company will use the funds to improve the cloud computing and other tech infrastructure.
Led by President Eric Jing, Ant Financial Services provides small and micro enterprises and consumers with an open ecosystem of Internet technologies
including Alipay, an online payment services provider, and Sesame Credit, a credit rating system.
Businesses operated by Ant Financial Services Group also include Yu’e Bao, Zhao Cai Bao, Ant Fortune, Ant Check Later, Ant Financial Cloud, and MYbank.
Alibaba and Ant Financial recently made an investment in Paytm, India’s largest mobile payment & commerce platform.
FinSMEs
27/04/2016