The financial services group that was carved out of Alibaba seven years is prepping to raise $9b in private funding at a valuation of approximately $150b - worth more than Goldman Sachs, Paypal, and BlackRock. Ant has an asset-management business that oversees the world's largest money market fund, a credit-scoring business, and a large lending arm.
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Jack Ma’s Ant Financial to raise $9b, become world’s biggest unicorn
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Ant’s last announced fundraising round was in April 2016, when it secured $4.5 billion from Chinese investors and notched a valuation of around $60 billion. Since then, the company has increased revenue, expanded Alipay within China and in other countries, and widened its scope of financial services for individuals and small businesses. It also has an asset-management business that oversees the world’s largest money-market fund, a credit-scoring business and a large lending arm.
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