China’s Ant Financial Buys UK Payments Company WorldFirst

Article 0 Comments Ant Financial, the Chinese financial services giant controlled by billionaire Jack Ma, bought London-based payments company WorldFirst in its biggest overseas deal since a U.S. expansion was thwarted. The acquisition marks the Chinese company’s first big move into the U.K., although its Alipay service is accepted by […]

Stolen Apple IDs Used by Hackers to Steal Cash, Warn Chinese Digital Payments Firms

Article 0 Comments Ant Financial’s Alipay and Tencent Holdings Ltd. warned that cyber attackers employed stolen Apple IDs to break into customers’ accounts and made off with an unknown amount of cash, in a rare security breach for China’s top digital payments providers. Alipay, whose parent also operates the world’s […]

Berkshire Invests $356M in One97, Parent of India’s Biggest Digital Payments Firm

Article 0 Comments Berkshire Hathaway Inc has acquired a 25 billion rupees ($356 million) stake in the parent of digital payments company Paytm, a source said, its first investment in an Indian startup as it moves into the financial payments sector. The conglomerate run by billionaire Warren Buffett confirmed in […]

Reuters: China’s Ant Financial Raises $10 Billion at $150 Billion Valuation

Article 0 Comments Ant Financial Services Group, operator of China’s biggest online payment platform by market share, Alipay, has closed its latest funding round having raised $10 billion from a clutch of global and local investors, five people with direct knowledge of the matter told Reuters. Ant’s first fundraising targeting […]

Ant Financial About To Reap $10 Billion in Fundraising Round

Article 0 Comments Ant Financial, the Chinese payments giant controlled by Jack Ma, is expected to close a fundraising of at least $10 billion in the next few days, attracting Carlyle Group and the Canada Pension Plan Investment Board as first-time investors, according to people familiar with the matter. The […]

China’s New Systemic Risk Rules May Curb Giant Ant Financial

Article 0 Comments There’s no other company on Earth quite like Ant Financial. Spanning online payments, insurance, lending, credit scores, asset management and more, Jack Ma’s Chinese behemoth resembles a mashup of PayPal, Geico, Wells Fargo and Equifax — with a bit of BlackRock thrown in for good measure. Thanks […]

Explaning Ant Financial’s $150B Valuation – and Investor Enthusiasm for China Tech

Article 0 Comments Ant Financial’s rapid climb to become the world’s biggest super unicorn valued by some investors at around $150 billion showcases investor enthusiasm for the biggest Chinese tech companies and also how quickly valuations can shift. Just two months ago, bankers and investors were tentatively talking of a […]

China’s Ant Financial Targets at Least $8B in Investor Funding: Sources

Article 0 Comments China’s Ant Financial Services Group is in talks with investors to boost its fundraising target to at least $8 billion, which could see its valuation jumping to about $150 billion, people with knowledge of the plan said. Singapore state investor Temasek Holdings is likely to be the […]