Ant International Closes $1.2 Billion Series A, Targeting Merchant Payments and Global Expansion
Ant International Closes $1.2 Billion Series A, Targeting Merchant Payments and Global Expansion #
Ant International, the Singapore-based digital payments and financial technology company, has raised approximately $1.2 billion in a Series A equity round, the firm announced Tuesday, in what analysts have called one of the largest private fundraisings in China’s fintech sector in recent memory.
Ant Group, Ant International’s parent company, and e-commerce giant Alibaba Group both participated in the round, alongside several international institutional investors whose identities were not disclosed. Neither Ant Group nor Alibaba revealed the size of their individual contributions.
The company said the capital will support global expansion and product development across merchant payment services, account management, and enterprise financial services. Ant International’s network currently connects more than 150 million merchants to over two billion user accounts.
Ant International was separated from Ant Group and began operating as a standalone company in 2024, with operations across Asia, Europe, the Middle East, and Latin America. Before the round closed, Reuters had reported a valuation of approximately $10 billion, citing a person familiar with the matter.
The fundraising comes as Ant Group’s domestic operations remain under regulatory constraint. Chinese regulators suspended the company’s planned initial public offering in late 2020, shortly before what would have been one of the world’s largest stock market debuts, after which founder Jack Ma stepped back from direct control of the company. Ant Group has since pursued growth primarily through its international arm.
The proceeds are expected to fund expansion into new markets and product development for businesses of various sizes. Ant International did not provide a timeline for any future capital markets activity, though earlier reporting had suggested a successful fundraising round could support a potential listing in Hong Kong.
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