Ant Financial raises $14 billion to expand Alipay services

Ant Financial, the Chinese payment giant announced that it has raised about $14 billion in its latest C funding round that aims to expand the Alipay services globally.

Being affiliated with Alibaba, Ant Financial now has become the largest fintech firm globally that is supposed to enhance its Alipay services all around the world. Different rumors have been making rounds about this great financing deal for the past month, multiple sources reported that Ant Financial has raised at least $9 billion ahead of going public to raise $100 billion.

Ant Financial CEO and executive chairman Eric Jing said in a statement:

“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.”

Ant Financial said that they will extend its global expansion and strengthen its presence in non-China markets it has already entered. Ant Financial has also invested in Pakistani Telenor Bank and it is expected that the IPO will help strengthen its partnership with Telenor Bank in Pakistan.