The logo of Ant Financial Services Group, Alibaba's financial affiliate, is pictured at its headquarters in Hangzhou, Zhejiang province, China
Financial’s latest round of funding, reported to involve Singapore’s Temasek Holdings Pte, is said to value the Chinese provider of mobile payments at about $150 billion - 50 percent more than Goldman Sachs Group Inc.’s market capitalization.
Ant the Giant
That would not only make Zhejiang Ant
Small & Micro Financial Services Group the world’s most-valuable startup, it would jump the payments business founded by Alibaba
Group Holding Ltd. Chairman Jack Ma
into the top 15 among banks, insurers and credit providers by market value.
Financial is seeking to raise at least $10 billion in a funding round, according to reports by Bloomberg, citing people familiar with the matter. At a $150 billion valuation, the operator of Alipay and a money-market fund would rank 14th among financial-service firms.
China's biggest fintech company's valuation joins elite club of lenders and insurers.