Employees are seen at the reception desk of Ant Financial Services Group, Alibaba's financial affiliate, at its headquarters in Hangzhou, Zhejiang province, China January 24, 2018. Picture taken January 24, 2018.

Ant Financial raised $14 billion in a fundraising record-breaker

$14 billion

Alibaba’s Ant Financial—the world’s most valuable fintech giant—raised a whopping $14 billion in the single biggest fundraising round by a private company.

Published   |  Photo by Reuters/Shu Zhang
Employees are seen at the reception desk of Ant Financial Services Group, Alibaba's financial affiliate, at its headquarters in Hangzhou, Zhejiang province, China January 24, 2018. Picture taken January 24, 2018.
$14 billion

The funding denotes a $150 billion valuation—making Ant Financial worth nearly twice as much as Goldman Sachs.

Employees are seen at the reception desk of Ant Financial Services Group, Alibaba's financial affiliate, at its headquarters in Hangzhou, Zhejiang province, China January 24, 2018. Picture taken January 24, 2018.
$14 billion

Ant Financial is expected to file for an IPO sometime next year, with plans to hit 2 billion users for its payment platform Alipay as it looks toward India, Japan, and South Korea.

Employees are seen at the reception desk of Ant Financial Services Group, Alibaba's financial affiliate, at its headquarters in Hangzhou, Zhejiang province, China January 24, 2018. Picture taken January 24, 2018.
$14 billion

It’s been a quick surge for Ant since Alibaba launched it in 2014. Since then, the company’s racked up 870 million Alipay users—and essentially made cash unnecessary in China.

Employees are seen at the reception desk of Ant Financial Services Group, Alibaba's financial affiliate, at its headquarters in Hangzhou, Zhejiang province, China January 24, 2018. Picture taken January 24, 2018.
$14 billion

That rapid growth has also drawn fierce competition from tech rival Tencent. In China, business have been forced to choose sides between Alibaba and Tencent, often with exclusive contracts.

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