Fintech firm Ant International raises US$1.2b to fuel global growth
Existing backers Ant Group and Alibaba Group Holding join the equity financing round alongside undisclosed institutional investors
Ant International, the affiliate of Chinese fintech giant Ant Group, has raised about US$1.2 billion in a Series A funding round to fuel its global expansion, the company said on Tuesday.
Existing backers Ant Group and Alibaba Group Holding joined the equity financing alongside several international institutional investors, whose identities were not disclosed.
The fresh capital would be used to accelerate the firm’s international growth and drive innovation in merchant payments, account management and inclusive financial services for businesses of all sizes worldwide, the company said in a statement.
Spun off to operate independently in 2024, the Singapore-based company has built a footprint across Asia, Europe, the Middle East and Latin America. It said its network connected more than 150 million merchants to over 2 billion user accounts.
The transaction marks Ant International’s first publicly announced funding round. The firm did not reveal its current valuation, but was valued at US$10 billion prior to the raise, Reuters reported last month.
Ant International operates through four primary business units – Alipay+, Antom, WorldFirst and Bettr – offering cross-border payments, treasury management and credit technology services, including artificial intelligence-powered tools for merchants.