Multi Billion Dollar Series A of What Might be the Most Important Fintech Company of Our Times

Chinese e-commerce company Alibaba Group that offers a host of services through its web portals is carving the way forward to become the country’s (and perhaps the world’s) all-rounder company. And on its way there, it is letting investors and state-run institutions jump in. Ant Financial, a subsidiary of Alibaba has closed the Series A funding round which included the country’s largest pension fund—the National Social Security Fund (NSSF) besides some unnamed Chinese insurance majors. Valued at $45-50 billion, Ant Financial is a one-of-a-kind of ...

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