Ant International raises $1.2B for global expansion

Ant International, a branch of the Chinese fintech giant Ant Group based in Singapore, has raised about $1.2 billion in a Series A funding round to support its global growth. This round saw backing from existing investors like Ant Group and Alibaba Group Holding, along with some unnamed overseas institutional investors. The capital will be used to boost international expansion and innovation in sectors like merchant payments and financial services for businesses worldwide. Ant International plans to begin operating independently in 2024 and has already made inroads in Asia, Europe, the Middle East, and Latin America, linking over 150 million merchants to more than 2 billion user accounts through its key units: Alipay+, Antom, WorldFirst, and Bettr.