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With a fresh $150b valuation and $14b of new capital, Ant Financial has further sealed its leading position in China's $15.5 trillion mobile payments market. Ant Financial has used mobile payments as a wedge for additional financial services, including wealth management, lending to consumers and small businesses, and insurance.
The fundraising, originally targeted at $10bn, brought in a long list of foreign investors such as Singapore’s GIC and Temasek, Malaysia’s Khazanah, Baillie Gifford, Canada Pension Plan Investment Board, Warburg Pincus and General Atlantic. “We are pleased to welcome these investors as partners, who share our vision and mission, to embark on our journey to further promote inclusive finance globally and bring equal opportunities to the world,” said Eric Jing, chairman and chief executive of Ant.
https://www.ft.com/content/bfaeff4a-6ac0-11e8-8cf3-0c230fa67aec
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