Firm gets capital to expand
Print Edition
ALIBABA Group’s financial affiliate Zhejiang Ant Small & Micro Financial Services Group Co said it has completed its first round of fundraising as the company continues to tap growing demand among Internet users for financial services.
“The fund-raising gives us opportunities to expand our business and serve more consumers as well as small business owners,” according to an e-mail yesterday.
Ant Financial has sold an undisclosed stake to external investors including the National Social Security Fund and private equity firms including Yunfeng Capital. But the company didn’t reveal how much it raised.
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