Ant Small and Micro Financial Services Group announced it has entered into definitive agreements with investors for its Series C equity financing for some $14 billion. The financing round includes an RMB tranche raised by Ant Financial from domestic investors and a USD tranche raised by Ant International from international investors. Funds raised will be used to accelerate Alipay’s globalization plans and invest in developing technology to further enhance its ability to deliver inclusive financial services to unbanked and underbanked consumers and small enterprises globally. In addition, the capital will be used to cultivate high-tech talent in emerging markets to help communities take advantage of the opportunities arising from digital transformation.
Participants in the RMB tranche of the Series C equity financing are mainly existing shareholders. Participants in the USD tranche are global institutional investors including GIC, Khazanah Nasional Berhad, Warburg Pincus, Canada Pension Plan Investment Board, Silver Lake, Temasek, General Atlantic, funds and accounts advised by T. Rowe Price Associates, Inc., The Carlyle Group, Janchor Partners, Discovery Capital Management, Baillie Gifford, and Primavera Capital.
Ant Financial is also replicating the “Alipay model” by leveraging its technological know-how and risk management capability to enable its local partners to better innovate and serve individuals and businesses in India, Thailand, the Republic of Korea, the Philippines, Indonesia, Hong Kong, Malaysia, Pakistan and Bangladesh. As of the end of March, Alipay, together with its global partners, served approximately 870 million annual active users globally and over 15 million small businesses in China.