China’s Ant Financial raises $14bn to become biggest fintech firm

Chinese digital payments giant Ant Financial announced that it had raised $14 billion in its latest financing round. The funds will be invested in new technologies and to accelerate Alipay’s expansion abroad and into new sectors. Ant Financial did not provide a total value for the company, but Bloomberg News recently reported it was raising funds at a $150 billion valuation. According to Bloomberg, the latest round makes the company the world’s largest fintech firm.

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