Ant International, the overseas affiliate of Jack Ma-founded fintech giant Ant Group, has raised $1.2 billion in a fresh equity funding round to support its global growth plans, the company announced on Tuesday, Reuters reported.
According to Reuters, affiliates Ant Group and Alibaba Group participated in the private fundraising round, although the company did not disclose the size of their respective investments.
The Singapore-based fintech firm said it will use the proceeds to accelerate the expansion of its merchant payments business, account management offerings and other enterprise-focused financial services across international markets.
Ant International was carved out of China's Ant Group in 2024 as an independently operated company. It has since focused on expanding its digital payments and financial technology services outside mainland China.
Reuters reported last month, citing a source familiar with the matter, that Ant International was valued at around $10 billion before the latest funding round.
The fundraising marks another milestone for the Ant ecosystem, years after Chinese regulators halted Ant Group's blockbuster initial public offering in 2020 just days before its planned debut. The regulatory intervention ultimately led to founder Jack Ma relinquishing control of Ant Group as part of the company's broader restructuring.
Ant International currently has operations spanning Asia, Europe, the Middle East and Latin America. The company works with banks, card networks, mobile payment providers and technology firms, enabling it to serve around 150 million merchants and 2 billion user accounts worldwide.
