Jack Ma's payments firm Ant Financial raises $14 bn as funding round closes

The company has been said valued at $150 bn in latest round; funding includes U.S. dollar, yuan denominated tranches

China’s Ant Financial, the payments giant controlled by Jack Ma, raised about $14 billion in its latest funding round as it accelerates the expansion of Alipay globally and develops new technology.

The financing included a U.S. dollar tranche backed by Singapore’s sovereign wealth fund GIC Pte. as well as Warburg Pincus, Canada Pension Plan Investment Board, Silver Lake and Temasek Holdings Pte., the Hangzhou-based company said in a statement Friday. A yuan denominated component of the funding was supported mainly by existing shareholders.

The funding makes Ant the world’s largest fintech firm and equips it with enormous resources for expansion. The affiliate