Ant Financial Services Group is the major finance pillar of Alibaba Group Holding Ltd, a leading name in Chinese e-commerce. It values around $50 billion as per the present round of funding according to the Wall Street Journal.
Ant Financial is known as a platform to China’s top online payments which counts around 500 million users and 200 million credit cards. Other services include Alibaba’s online bank: MYBank, Sesame credit-scoring, Yu’e Bao money and many more.
As per the latest report of various sources, the financial arm of Alibaba is looking forward to raise a 20 billion yuan ($3.07 billion) from their investors in this fiscal. The next round can be sometime in Mid April, though the same has not yet been confirmed by either Alibaba or Ant Financial.