Ant Financial is looking for an additional 10 billion in IPO at Temasek and Deal could give Ant at US $ 150b valuation
Ant Financial is an affiliate company of the Chinese Alibaba Group and, on the site of the company, you can read: “Ant Financial is dedicated to bringing the world more equal opportunities through building a technology-driven open ecosystem and working with other financial institutions to support the future financial needs of society”.
Over time, the company of Alibaba has been talking about itself, but now it is becoming the largest startup in the world with a US$150b valuation. But it is not enough for the company. Indeed, Ant Financial is hoping to raise at least US$10 billion in a funding round that could make the Chinese payments giant controlled by Alibaba Group the world’s biggest start-up.
Temasek Holdings is believed to want to be the lead investor ahead of the highly anticipated initial public offering
The company controls China’s premier mobile payments service Alipay, which has moved deeper into areas from consumer lending to credit scoring.
Futhermore, Alipay has been instrumental in driving Alibaba’s core business and is increasingly employed in physical stores around the world.
Joe Tsai, Alibaba Group vice-chairman, said that Ant is profitable in its three key businesses of payments, wealth management and lending to consumers and small and medium-sized businesses. Probably Ant’s future goal will be to export its product all over the world and Temasek’s backing could also be key as it seeks to promote the use of Alipay beyond China.