Alibaba’s Ant Financial Announces $4.5B Series B Fundraising

Ant Financial Services Group, the financial services arm of Chinese e-commerce giant Alibaba Group Holding, has completed raising US$4.5 billion in a series B round of financing in one of the largest fundraising deals by an Internet company globally, according to a company announcement reported by China's state media.

The final tally is larger than previously reported fundraising amount RMB20 billion (US$3.1 billion) and a valuation of around US$60 billion.

Investors in the round include two investor consortium led by CIC International, the Chinese sovereign wealth fund's international investment arm, and a unit of China Construction Bank.

CIC International was established in 2011, with a mandate to invest and manage overseas assets, including public equity and bond investments, hedge funds and real estate investments, private equit...

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