Alipay’s operator Ant International has entered into “definitive agreements” with investors to secure $14 bln in a Series C equity financing round. The money will be spent to pursue blockchain and technological innovation, according to a company announcement today, June 8th.
Recently valued as high as $150 bln, China’s Ant International plans to invest the capital in accelerating Alipay’s blockchain, artificial intelligence (AI), security, and Internet of Things (IoT) capabilities for its global tech platform, that targets delivering financial services to unbanked and underbanked consumers and small enterprises globally.