Alibaba's financial services affiliate has raised funding from backers including China Post and China Life as the country's tech companies continue to close 10-figure rounds.
Ant Financial, which acts as China-based e-commerce group Alibaba’s financial services affiliate, has closed $4.5bn in a round that stands as the largest officially disclosed by a private technology company, the Wall Street Journal reported today.
The series B round, which valued Ant Financial at about $60bn, included postal service China Post Group and insurance companies including China Life, according to TechCrunch.
Other investors included sovereign wealth fund China Investment Corp (CIC), private equity firm Primavera Capital Group, the state-owned…
