Ant Financial, the owner of Alipay – the largest online payments network in China, and affiliate of Alibaba – has announced an enormous total of $14 billion has been raised in series C funding. The amount, which is one of the largest capital raises in history, puts the company at a massive valuation of $150 billion, serving a customer base of an estimated 870 million users in China.
In a statement, Ant Financial said:
The Company will continue to invest in developing its blockchain, AI, security, IoT and computing capabilities to upgrade its global technology platform for the next generation. Participants in the USD tranche are leading global institutional investors GIC, Khazanah Nasional Berhad, Warburg Pincus, Canada Pension Plan Investment Board, Silver Lake, Temasek, General Atlantic, funds and accounts advised by T. Rowe Price Associates, Inc., The Carlyle Group, Janchor Partners, Discovery Capital Management, Baillie Gifford, and Primavera Capital.
Not the First Toe in the Water
This isn’t the first time that Ant Financial have decided to get involved in blockchain. Ant Love, the firm’s charity, have been a blockchain service for two years, and Alibaba itself is already using blockchain to track shipments, with blockchain already proving extremely effective at supply chain management and effective, ethical tracking.