Alibaba Launches Ant Financial To Better Serve Small Enterprises

Alibaba Group Holding Ltd.‘s financial services arm, Ant Financial Services Group, has been officially established, according to a company announcement. Formerly known as Small and Micro Financial Services Company, the company initiated its formation process in early 2013. It is comprised of Alipay, Alipay Wallet, Yu’e Bao, Zhao Cai Bao, Ant Credit and MYbank, which is currently being established.

Alibaba’s Ant Financial Participates In $12M Series B In V-Key

California-headquartered mobile security and cryptographic technology firm V-Key Inc. says that it has received US$12 million series B financing from freshly established Ant Financial Services Group, the financial services arm of Alibaba Group Holding Ltd., according to a company announcement. An existing investor, venture capital firm IPV Capital, also participated. The company says it will used the proceeds to pursue global expansion and further strengthen their technology offerings.

Ant Financial Reportedly Nearing Financing Round With $30B Valuation

Ant Financial Services Group, the financial services arm of Chinese e-commerce giant Alibaba Group Holding, is reportedly close to completing its first round of financing from a number of state-owned Chinese financial institutions with a valuation of US$30 billion, according to Chinese media reports. China’s National Social Security Fund, Postal Savings Bank of China, and China Development Bank Capital Corporation, the investment arm of China Development Bank, have agreed to each take 5%, 3%, and 3%, respectively, of the Hangzhou-based …

Ant Financial Leads Series D Round In 36Kr

Beijing-based 36Kr.com, an online platform for venture capital news and professional services start-up, has completed an undisclosed amount series D round of financing led by Ant Financial, the financial services arm of Alibaba Group Holding Limited.

Reports: Lufax Completes $900M New Financing At $18.5B Valuation

Chinese online financial services platform Shanghai Lujiazui International Financial Asset Exchange Co. Ltd., also known as Lufax, has completed US$900 million new round of financing last month with a post-money valuation of US$18.5 billion, according to an investor document obtained by Tencent Technology (in Chinese). Lufax, established in 2011 with the support of the Shanghai municipal government and as a subsidiary of Ping An Insurance Company of China, Ltd., reportedly completed a US$500 million series A funding round in December …

Alibaba’s Ant Financial Announces $4.5B Series B Fundraising

Ant Financial Services Group, the financial services arm of Chinese e-commerce giant Alibaba Group Holding, has completed raising US$4.5 billion in a series B round of financing in one of the largest fundraising deals by an Internet company globally, according to a company announcement reported by China’s state media.

Ant Financial Makes $200M Strategic Investment In South Korean’s Kakao Pay

Ant Financial Services Group, the financial services affiliate of Alibaba Group Holdings Ltd., has agreed to make a US$200 million strategic investment in Kakao Pay, a mobile payment solution provider of South Korean-based messaging platform company Kakao Corp., according to Ant and Kakao’s joint announcement.

Ant Financial, IDG Invest In Chinese Bike Sharing Company Youon Bike

Ant Financial, the financial services affiliate of Alibaba Group Holding Ltd., has teamed up with Chinese venture firm IDG Capital and Shenzhen Capital Group Co., Ltd to invest in a series A financing round in Youon Bike, a Jiangsu province-based bike sharing company, according to Chinese media reports. No financial details were disclosed. Founded in 2010, Youno claims that it has deployed over 800,000 bikes in 210 cities in China and has over 16 million users. The company has partnered …

Chinese Bike Sharing Company Youon Bike Makes Second Bid for Shanghai IPO

Jiangsu province-based bike sharing company Youon Bike is making another try for an initial public offering on the Shanghai Stock Exchange, seeking to raise RMB598 million (US$86 million) by issuing 24 million shares. An earlier application was rejected in 2015. Founded in 2010, Youon Bike received an undisclosed amount of money from Ant Financial, the financial services affiliate of Alibaba Group Holding Ltd., and IDG Capital. However, Youon plans to end the funding, according to its IPO prospectus. The company …