Ant Financial has made an undisclosed strategic investment in iGoldenBeta, a smart beta securities platform backed by Chinese fund manager Harvest Fund.
Half of China’s ten biggest unicorns, or start-ups valued at US$1 billion or above, are financial technology firms. Alibaba-affliated Ant Financial is the biggest unicorn in the country, worth a whopping US$60 billion, followed by peer Lufax at US$18.5 billion, according to a new report by iResearch.
New York and Hong Kong, July 4, 2016 — LendIt, the world’s most influential Fintech event, and AMTD Group Company Limited, the leading diversified financial services group based in Hong Kong with broad business coverage and network across Asia, jointly announced today that LendIt China and AMTD Group will co-host the first Global Fintech Investment Summit in Hong Kong on July 13. LendIt China and AMTD will become the premier conduit to connect leading international Fintech companies with Asian investors. …
Chinese private equity and venture firm Ants Capital has led a US$39 million series C round in Ayla Networks, a cloud platform-as-a-service (PaaS) provider for the Internet of Things (IoT) sector.
Ant Financial Services Group, a financial services firm affiliated with Alibaba Group Holdings Ltd., has joined other investors to back a newly approved mutual insurance association, according to state media reports.
China’s largest ride share company Didi Chuxing has received a US$600 million investment from China Life Insurance Co. Ltd., following a US$1 billion injection from Apple Inc and a US$400 million infusion from Alibaba Group Holdings Ltd. and its Internet finance unit Ant Financial last month.
Beijing-based television and film company Enlight Media has made an undisclosed investment in Maoyan, the online movie ticketing service provider of Meituan-Dianping after it span off the unit into an independent company, according to a company announcement.
Capital flowing into venture capital-backed financial technology (fintech) companies has driven investments in the sector in Asia to a new high in the first quarter of 2016.
Alibaba Group Holdings Ltd. plans to team up with affiliate Ant Financial to invest an additional US$400 million in China’s largest ride share company Didi Chuxing, according to Tencent Technology.
The list of Chinese tech unicorns, or start-ups with a valuation of US$1 billion or more, just got one more member. Alibaba Pictures says its online ticket booking unit has raised RMB1.7 billion (US$260 million) in a series A round of funding led by CDH Investments, Ant Financial and Sina Corp, according to a disclosure filing.
Dalian, China, May 9, 2016 /ChinaNewswire.com/ – Financial technology, e-commerce, and online payments are all booming industries in Asia, especially in the largest markets of China, India, and Japan. From startup fintech incubators in Hong Kong to e-commerce vendor aggregators in Mumbai to huge online payment services in Hangzhou, many banks, traditional industries, and Internet … Continue reading "Fintech In Asia Gains Momentum As Consolidation Continues Says FintekAsia.com"
Ant Financial Services Group, the financial services arm of Alibaba Group Holdings Ltd., has hired Douglas Feagin, a New York-based managing director at Goldman Sachs, to be the unit’s senior vice-president, according to media reports.
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.
Alibaba Group Holding Ltd. and its affiliate Ant Financial announced that they had agreed to invest US$1.25 billion in Shanghai-based food ordering mobile app Ele.me, becoming the O2O (online-to-offline) start-up’s biggest shareholder with a 27.7% stake.
Ant Financial Services Group, the financial services arm of Chinese e-commerce giant Alibaba Group Holding, is raising a larger venture round of more than RMB20 billion (US$3.1 billion) at a valuation of around US$60 billion, with the country’s sovereign wealth fund China Investment Corp. as one of the lead investors.
Chinese entrepreneurship service and media company 36Kr has spun off its KrSpace division, in an attempt to expand the unit into a national co-working space network, according to a company announcement.
China seems to have cancelled the introduction of a new strategic emerging industries board in Shanghai, as a revised version of the country’s 13th Five-Year Plan removed the mention of such plans, the official Xinhua News Agency reported yesterday.
A unit of Alibaba Group Holding Ltd. is to acquire control of Hong Kong-listed lottery operator AGTech Holdings Ltd. for around HK$2.39 billion (US$308 million) at hugely discounted prices, according to a disclosure document.
Ant Financial, the Internet finance arm of Alibaba Group Holding Ltd., is in talks to make a strategic investment in Chinese business news company Caixin Media, according to Chinese media reports.
Zhong An Online P&C Insurance Co., China’s first online-only insurer with backings of private equity investors, is planning a domestic initial public offering this year that could raise up to US$2 billion, according to the Wall Street Journal citing people familiar with the matter.
WeBank, Tencent Holdings Ltd.’s online banking affiliate, is set to raise over US$450 million in a new financing round led by Warburg Pincus, according to the Wall Street Journal citing people familiar with the matter.
JD Finance, the Internet financial services arm of Beijing-based e-commerce firm JD.com Inc., is to raise RMB6.65 billion (US$1 billion) from investors including Sequoia Capital China, China Harvest Investments and China Taiping Insurance.
JD Finance, the Internet financial services arm of Beijing-based e-commerce firm JD.com Inc., is in the process to raise between RMB5 billion (US$759 million) to RMB6 billion (US$911 million) in its series A funding round led by Sequoia Capital, according to an internal document obtained by Tencent Finance.
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 …
Beijing-based Qufenqi.com, an e-commerce start-up providing installment payment solutions to young Chinese consumers, has completed a new round of financing round in RMB, according to an internal letter sent to staff by the company’s founder reported by Chinese media.
Ant Financial Services Group, the financial services arm of Chinese e-commerce giant Alibaba Group Holding, is seeking at least RMB10 billion (US$1.5 billion) in a second round of financing ahead of a planned initial public offering, according to Bloomberg citing a person familiar with the matter.
China’s Baidu Inc has established a financial services group to develop consumer finance, mobile payment and Internet brokerage businesses, according to an internal letter sent by chief executive Robin Li cited by Chinese media reports.
Postal Savings Bank of China Co. (PSBC) has raised RMB45.1 billion (US$7 billion) by selling a 16.92% stake to ten investors including UBS Group AG, the Canada Pension Plan Investment Board and Temasek Holdings Pte, according to a press conference held in Beijing today.
Ant Financial, the financial services arm of Alibaba Group Holding Limited, says an Internet bank it helped co-launch in South Korea has won government approval, taking the new bank one step closer to providing innovative online financial services in the country.
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.
Alibaba Group Holding Limited and its financial services arm Ant Financial Services Group have agreed to make a strategic investment in One97 Communications, the parent company of India’s largest mobile payment and commerce platform Paytm, according to a joint announcement.