Alibaba’s Ant Pay seeks $10bn in funding

No primary category set

Alibaba’s payments division, Ant Pay, is looking to raise some serious money in the next week or so. It apparently wants to bag $10 billion in the next few days and the likes of the Carlyle Group and the Canada Pension Plan Investment Board are reportedly lined up as first-time investors,

One of the investors says of the prospects:

Ant Financial’s mobile payments network is unique and can’t be found anywhere else globally, it’s quite hard for rivals to replicate them in other countries. Ant is also evolving as a company and its revenue from tech service fees will likely grow much bigger, as it’s opening up its platform to other financial firms such as smaller banks.
– Ben Zhou, managing director at Warburg Pincus

It is is reported that Ant Financial posted a 65% increase in pre-tax profits in the year to March taking it to to 9.18 billion yuan ($1.4 billion). Ant Financial is already the largest online payments service in China and is also apparently the best funded payments service in the world. So the new money it seeks will further cements its dominant position. The Alibaba group, all told, is currently valued at 150 billion dollars.

We don’t necessarily write that much about Alibaba, and Ant Pay in particular, when we should. They are online and ecommerce giants. We are guilty of western bias and we’d love to know your experiences of your dealings with Alibaba.

One Response

  1. Never trust any china companies accounting figures !!!! Most ecommerce in china are scam reports only !

Comments are closed.

RELATED POSTS.. insights Super September Top Categories insights Super September Top Categories UK channel partner recruitment drive

This Way Up – 1st UK Channel Partner Product Launches and Platform Enhancements Product Launches and Platform Enhancements Super September B2B sales event Super September B2B sales event to showcase consumer electronics sourcing trends to showcase consumer electronics sourcing trends

ChannelX Guide...

Featured in this article from the ChannelX Guide – companies that can help you grow and manage your business.


Take a look through a selection of the latest articles on ChannelX

Register for Newsletter

Receive 5 newsletters per week

Gain access to all research

Be notified of upcoming events and webinars