Alibaba’s Ant Financial Raises $14 billion to Accelerate Alipay’s Global Expansion
Alibaba‘s Ant Small and Micro Financial Services Group or simply Ant Financial has raised $14 billion in Series C equity financing from existing domestic investors a group of international investors to accelerate Alipay’s globalization plans.
The firm will also use the funds to develop technology to further enhance the Company’s ability to deliver inclusive financial services to unbanked and underbanked consumers and small enterprises globally.

Eric Jing, Executive Chairman and CEO of Ant Financial, said, “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. We are proud of, and inspired by, the transformation we have affected in the lives of ordinary people and small businesses over the past 14 years. Now, with the help of our partners, we are going to accelerate our strategy.”

Mr. Jing added, “We are dedicated to building an open ecosystem with all our partners in China and beyond.  We will continue to invest in technology and innovation in order to serve unmet financial needs of people everywhere and to enable them to benefit from the development of the digital economy.”

The firm will also use the capital to cultivate high-tech talent in emerging markets to help communities take advantage of the opportunities arising from digital transformation.

Participants in the USD tranche are leading global institutional investors including GIC, Khazanah Nasional Berhad, Warburg Pincus, Canada Pension Plan Investment Board, Silver Lake, Temasek, General Atlantic, funds and accounts advised by T. Rowe Price Associates, Inc., The Carlyle Group, Janchor Partners, Discovery Capital Management, Baillie Gifford, and Primavera Capital.

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Since the launch of Alipay in 2004 and the establishment of Ant Financial in 2014, the Company has built an integrated technology platform and an ecosystem of partners to bring more secure, transparent, cost-effective and inclusive financial services to individuals and SMEs globally. The Company will continue to invest in developing its blockchain, AI, security, IoT and computing capabilities to upgrade its global technology platform for the next generation.

Ant Financial is also replicating the “Alipay model” by leveraging its technological know-how and risk management capability to serve individuals and businesses in IndiaThailand, the Republic of Korea, the PhilippinesIndonesiaHong KongMalaysiaPakistan and Bangladesh.

In the year ended March 31, 2018, Alipay served approximately 870 million annual active users globally and over 15 million small businesses in China.

 

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