Ant International raises $1.2 billion in global expansion push
Ant International, the Singapore-based overseas affiliate of Chinese fintech giant Ant Group, has raised $1.2 billion in a private equity fundraising round to accelerate its global expansion. Affiliates Ant Group and Alibaba Group participated in the round, though their individual commitments were not disclosed. The company plans to use the funds to expand its merchant payment business, account management, and other financial services for enterprises worldwide. Prior to this funding, Ant International was valued at $10 billion. The firm was spun out of Ant Group in 2024 and operates primarily in Asia, Europe, the Middle East, and Latin America, connecting with banks, card organizations, and mobile payment firms to serve 150 million merchants and 2 billion user accounts. The fundraising comes after Chinese regulators suspended Ant Group's planned IPO in 2020.
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