Alibaba's financial services affiliate is now the most valuable VC-backed startup of all time, having reportedly closed funding in a GIC-led round.

Ant Financial, the China-based financial services affiliate of e-commerce group Alibaba, has agreed a $10bn funding round that values it at $150bn, Forbes reported yesterday, citing a source familiar with the discussions.

Singaporean sovereign wealth fund GIC is leading the round, which includes private equity group Carlyle, growth equity firm General Atlantic, private equity firm Silver Lake Partners and venture capital firm Sequoia Capital China, according to the China Securities Journal.

Warburg Pincus, the Singaporean state-owned Temasek, Canadian Pension Plan…