News & Bulletins

Primavera Capital Participated in Series C Financing of Ant Financial

On Jun 8, 2018, Ant Small and Micro Financial Services Group Co., Ltd. (“Ant Financial” or “the Company”) announced that it has entered into definitive agreements with investors for its Series C equity financing totaling approximately US$14 billion. This financing round includes an RMB tranche raised by Ant Financial from domestic investors and a USD tranche raised by Ant International Co., Limited (“Ant International”), a wholly owned offshore subsidiary of the Company, from international investors.

 

Funds raised will be used to accelerate Alipay’s globalization plans and invest in developing technology to further enhance the Company’s ability to deliver inclusive financial services to unbanked and underbanked consumers and small enterprises globally. In addition, the capital will be used to cultivate high-tech talent in emerging markets to help communities take advantage of the opportunities arising from digital transformation.

 

Participants in the RMB tranche of the Series C equity financing are mainly existing shareholders of the Company. Participants in the USD tranche are leading global institutional investors. Ant Financial’s strong business profile, technology-driven revenue growth and rapid global expansion led to strong investor demand for the Series C equity financing. Through participating in Series C Financing, Primavera Capital will continue to support the future development of the Company.