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China's fintech leader worth 50% more than Goldman with $150-bn Valuation

China's biggest fintech company's valuation joins elite club of lenders and insurers

Bloomberg 

ant financial, alibaba
The logo of Ant Financial Services Group, Alibaba's financial affiliate, is pictured at its headquarters in Hangzhou, Zhejiang province, China

Financial’s latest round of funding, reported to involve Singapore’s Temasek Holdings Pte, is said to value the Chinese provider of mobile payments at about $150 billion - 50 percent more than Goldman Sachs Group Inc.’s market capitalization.

the Giant

That would not only make Zhejiang Small & Micro Financial Services Group the world’s most-valuable startup, it would jump the payments business founded by Group Holding Ltd. Chairman into the top 15 among banks, insurers and credit providers by market value.

Financial is seeking to raise at least $10 billion in a funding round, according to reports by Bloomberg, citing people familiar with the matter. At a $150 billion valuation, the operator of Alipay and a money-market fund would rank 14th among financial-service firms.

China's biggest fintech company's valuation joins elite club of lenders and insurers.

First Published: Wed, April 11 2018. 18:51 IST
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