Alibaba subsidiary Ant Financial only cashed-in on a historical $14 billion Series C financing round, and also the Alipay founder states that part of the warchest is going to be utilized to enhance blockchain development.
Ant Financial announced last Friday it has reached a definitive agreement with its own shareholders because of its Series C at the entire sum of $14 billion. This financing comes from both foreign and domestic investors — The Wall Street Journal reports $11 billion has been increased in USD whereas the remaining $3 billion were at RMB. $200 million appear to be the cheapest investment sum, although the highest was $500 million.
Earlier reports said Ant Financial was searching for a $9 billion investment before an alleged first public offering (IPO). As it stands today, the Chinese firm is valued at about $150 billion.
In its announcement, Ant Financial said it’d keep working on growing blockchain solutions, stating,”The business will continue to invest in creating its blockchain, AI, safety, IoT, and computing capabilities to update its global technology system to its next generation”
People who invested in the Alibaba’s subsidiary have been made to agree to specific terms — for example, agreeing not to increase present bets or put money into rival firms Tencent Holdings and JD.com Inc.
While these appear sensible, it’s uncommon for a business to place the terms, rather than its shareholders. Jack Ma, Alibaba’s CEO and creator of Ant Financial, has played his cards right and that just shows how successful his firm actually is. Reports state not all shareholders were approved, as some did not provide enough cash, while some were connected to Tencent.
Ant Financial is currently China’s biggest online and mobile payments system, which now works Alipay and final year obtained MoneyGram International. The business has focused on utilizing technological improvements to better serve its clients. Aside from focusing on blockchain options, the Chinese giant is also growing technologies in artificial intelligence, Web of Things (IoT), safety, and computing disciplines.
Ant Financial allegedly served over 850 million yearly active users worldwide and over 15 million companies in China.
If Ant Financial does go public, it could very well be worth a lot more than some of the most storied US financial firms, including as Goldman Sachs, PayPal, and BlackRock As of this moment, rumors anticipate the firm to be recorded on both nationally and international exchanges.