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US$14 billion raised from investors including GIC, Temasek to Jack Ma’s Ant Financial

 


Ant Financial Services Group on Friday (Jun 8) announced that it raised around US$14 billion fresh funds from investors like Singapore sovereign wealth fund GIC and state investor Temasek.

 

Ant Financial is the spun off from Alibaba Group Holding before the e-commerce firm’s 2014 listing. Being the operator of China’s biggest online payment platform and has played a major role in the direction to shaping China’s cash-less society.

 

“Now, with the help of our partners, we are going to accelerate our strategy,” said Ant Chief Executive Eric Jing.

 

This was apparently amounted to be the largest confirmed single fundraising round in history, according to Crunchbase. The cash will accelerate Ant’s widely expected initial public offering (IPO) in Hong Kong and mainland China as early as next year – though the company has neither publicly set a timetable nor chosen a likely stock exchange.

 

Other global investors included Malaysian sovereign wealth fund Khazanah, Canada Pension Plan Investment Board and US private equity firms Silver Lake, General Atlantic and Warburg Pincus LLC it said.

 

Aside from payments, Ant also offers consumer finance products including credit services, wealth management products and micro-loans.

 

Deutsche Bank, Citigroup, China International Capital Corp, CITIC Securities, JPMorgan and Morgan Stanley acted as financial advisors to Ant.