Ant Financial raises $14 bn, becomes largest fintech firm
Chinese e-commerce major Alibaba's financial affiliate Ant Financial has raised around $14 billion from investors including US-based private equity firm Warburg Pincus. Temasek Holdings and Singapore's sovereign wealth fund GIC also participated in the round. The funding makes Ant Financial, which is said to be valued at $150 billion, the world's largest fintech firm, according to Bloomberg.