Ant International, the overseas arm of Chinese financial technology giant Ant Group founded by Jack Ma, successfully raised US$1.2 billion in its latest round of equity financing to fully promote its global expansion strategy.
The company said on Tuesday that its affiliates Ant Group and Alibaba Group participated in the private equity financing round, but it did not disclose the specific investment amount of each party.
Ant International plans to use the funds to accelerate the expansion of its merchant payment business, account management and other corporate financial services globally. The Singapore-based digital payments and fintech company was spun off from China's Ant Group in 2024 and operates as an independent company.
Reuters reported last month, citing people familiar with the matter, that Ant International’s valuation had reached US$10 billion before this round of financing. Chinese regulators suspended the group's original listing plan in 2020, causing Jack Ma to give up control of Ant Group.
At present, Ant International's business mainly covers Asia, Europe, the Middle East and Latin America. By establishing connections with banks, card organizations, mobile payment and technology companies, its service network now covers 150 million merchants and 2 billion user accounts.