FinTech Firms Dominate China’s Top Ten Unicorn Ranking

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.

LendIt and AMTD Group Co-Host the First Global Fintech Investment Summit in Hong Kong

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. …

China Life Insurance To Invest $600M In Didi Chuxing

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.

Fintech In Asia Gains Momentum As Consolidation Continues Says FintekAsia.com

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"

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.

PE-Backed Zhong An Insurance Plans Domestic IPO In China

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.

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 …

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.