Ant Financial

Ant Financial

A venture capital firm in China that focuses on bringing inclusive financial services to the world.

Ant Financial is a financial technology company that is situated in China. It is a company that focuses on bringing inclusive financial services to the world.

Ant Financial was formerly Alipay, Ant Financial Services is a spin-off of China's Alibaba and akin to PayPal in the United States. The organization has expanded beyond mobile wallet Alipay to include an online lending platform, MyBank, and an investment fund, Yu’e Bao.

In June 2018, Ant Financial introduced cross-border remittance network that is based on blockchain. Through an established partnership between its AlipayHK brand and GCash, Ant Financial offers real-time money transfer between Hong Kong and the Philippines, with lesser fees than the traditional transfer services.

Ant Financial has made use of its Artificial Intelligence expertise to improve wealth management services and made them more accessible and customizable for users. In June 2018, Ant opened up its AI services for any Chinese asset managers to modernize their services.

Ant’s AI-powered accounts on its Ant Fortune platform give fund managers new insights into their customers. In August 2018, Ant debuted 14 new target date retirement funds on Ant Fortune, in an effort to encourage personal savings for retirement in addition to China's pension system.

In 2016, Ant Financial pulled in a $4.5 billion round of funding and acquired a face-scanning verification software, EyeVerify. While competitor Tencent has usurped marketshare via the growth of WeChat Pay, Ant Financial remains a strong force, due to its expansion into new financial products and regions, and partnerships with ride-hailing platform, Didi Chuxing and food-delivery service,

In 2016, Ant Financial invested in a used car dealer, Alibaba’s online ticketing platform, a wealth management company, a food-delivery service, and major fast-food conglomerate Yum China. The company has made inroads in India by leveraging an existing partnership with Uber, so customers can use both AliPay and Paytm, a company it invested in two years ago, in lieu of a credit card to pay for rides.

In Europe, Ant Financial’s agreement with German payment processing terminal Wirecard allows it to be accepted in some retail shops. It also did wide outreach to merchants, by offering them customer data in exchange for accepting Alipay.


August 25, 2020
Jack Ma's Ant Group files for Hong Kong-Shanghai IPO, says H1 2020 profit rose 1,000%
Ant Financial generates $17.1 billion in revenue generating about $2.43 billion in profit.
June 7, 2018
Ant Financial raises a $14,000,000,000 series C round.
May 17, 2017
Ant Financial raises a $3,500,000,000 venture round.
April 22, 2016
Ant Financial raises a $4,500,000,000 series B round from CCB International and Primavera Capital Group.
October 2014
Ant Financial was founded by Lucy Peng.

Funding rounds



Jerry Sung

Vice President

June Gao

Product Manager

Further reading


Documentaries, videos and podcasts











Bloomberg News
December 8, 2020
Citigroup has tied up with Ant Financial, Paytm, Grab to embed its services into these outside apps.
Katie Canales
November 14, 2020
Business Insider
Ant's IPO may have been shockingly suspended, but the firm's Alipay app remains one of the most popular apps in China, not unlike PayPal in the US.
The Economist
November 12, 2020
The Economist
Private enterprise faces formidable new obstacles
By Timothy McDonald
November 8, 2020
BBC News
How Jack Ma's clash with the Chinese authorities stopped the biggest-ever share market debut.
Yoyo Chow
November 4, 2020
Mom-and-pop investors had put in $3 trillion of bids.
ZEN SOO and JOE MCDONALD Associated Press
November 3, 2020
ABC News
The planned stock market debut of the world's biggest online finance company, Ant Financial, in Shanghai and Hong Kong has been suspended
JD Alois
July 9, 2020
Crowdfund Insider
Click HERE to find out ⭐ Massive Fintech Ant Financial Planning Hong Kong IPO, Valuation Expected to Top $200 Billion. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Omar Faridi
May 19, 2020
Crowdfund Insider
Fintech firm Ant Financial partners Myanmar's Wave Money to promote financial inclusion for the underbanked.
Paul Mozur, Raymond Zhong and Aaron Krolik
March 2, 2020
A new system uses software to dictate quarantines -- and appears to send personal data to police, in a troubling precedent for automated social control.
Nicole Jao
January 3, 2020
Ant Financial and Bytedance are joining local contenders like Razer and Grab in the race to nab a digital banking license in Singapore.
Nicole Jao
December 20, 2019
The deal, negotiated over the summer, is reportedly not being announced publicly because of brewing anti-China sentiment in the country.
December 19, 2019
Read more about Alibaba Group rejigs brass, names veteran Simon Hu as CEO for Ant Financial on Business Standard. Cheng Li, chief technology officer for Ant, will move over to become CTO for Alibaba Group
Fanny Potkin
December 19, 2019
China's Ant Financial, a fintech affiliate of e-commerce giant Alibaba Group Holding Ltd , has quietly acquired a sizable stake in a Vietnamese e-wallet eMonkey, people familiar with the matter said.
Daniel Keyes and Greg Magana
December 18, 2019
Business Insider
Business Insider Intelligence looks at a variety of financial services provided by Ant Financial (Alipay) and Tencent (WeChat Pay) in the Chinese market and the benefits each one offers.
Nicole Jao
December 16, 2019
The service will be accessible through Alipay and the Ant Fortune platform with an investment minimum of RMB 800.
Nicole Jao
November 27, 2019
Ant Financial is looking to invest in payments and internet finance startups in Asia's emerging markets.
November 26, 2019
Read more about Jack Ma's Ant Financial plans to raise about $1 billion for start-ups on Business Standard. The firm is looking to back more start-ups in those regions that focus on payments and online finance, the person said, confirming a DealStreet Asia report
Nicole Jao
November 5, 2019
Ant Financial has been eager to expand its user base beyond China.
Reuters Editorial
Invalid Date
Apple Inc has teamed up with Chinese payments giant Ant Financial Services Group and several local banks to offer interest-free financing, its first such move in the country as it looks to boost waning smartphone sales.
Ishita Russell
Invalid Date
Robust activity in North America and mega deals in Asia propelled the venture capital deals in 2018 to record highs at an aggregate $274 billion.


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