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1445

Alibaba’s Ant Financial Raises $4.5 Billion In World’s Largest Private Tech Investment Round

By Rahil Bhagat for Forbes Asia

Alibaba’s Ant Financial Services Group, one of the world’s largest online financial services companies, announced today that it has completed a US$ 4.5 billion Series B round of financing.

(more…)

China, Deals, Fintech news, Global trends, InspirAsia

April 26, 2016

1396

A Chinese fintech behemoth is getting ready to go public

By Daniel Roberts for Yahoo News

Ant is a misnomer for one Chinese fintech company. (more…)

Deals, eWallets, Fintech news, Global trends, InspirAsia

April 22, 2016

2241

You don’t know who the world’s largest fintech startup is

By Ian Kar for Qz.com

The world’s largest fintech startup is AliPay, the digital bank company that split from e-commerce giant Alibaba in 2011. (more…)

Fintech news, InspirAsia

April 1, 2016

1043

Alibaba’s Ant Financial raising new funding at $60B valuation ahead of IPO

By Jon Russell for Techcrunch

Ant Financial, the Alibaba affiliate that manages hugely popular payments service Alipay, is raising a new round of financing that could value the company as high as $60 billion ahead of a much-speculated public listing. (more…)

Fintech news

March 8, 2016

1816

More P2P trouble as Chinese online lender accused of impersonating Jack Ma

By C.Custer for Techinasia.com

Before the lunar new year holiday, China’s massive online P2P lending market was somewhat in disarray. A cloud of doubts were crystallized when a police investigation of Ezubao, previously one of the scene’s top companies, discovered it was a Ponzi scheme. Banks started cutting off ties to the sector, and regulators were circling. The holiday offered a brief respite, but the return to business in China has brought with it more bad news for the sector. (more…)

Cashless, China, Fintech news, p2p-payments, p2p/online lending

February 16, 2016

1618

Alipay data reveals why Shanghai is China’s greediest city

We knew that Alibaba was having a big year for mobile when sales via mobile made up nearly 70 percent of the company’s Singles Day haul. But now with the year over, Alibaba’s finance arm Ant Financial has released a bunch of interesting data on Alipay, Alibaba’s online payment platform, throughout 2015. The biggest headline: a full 65 percent of the money exchanged on Alipay in 2015 was sent via mobile. That’s up significantly from 2014, when mobile accounted for just under 50 percent of Alipay’s total business. (more…)

Analytics, Cashless, eWallets, Fintech news

January 26, 2016

Alibaba’s Finance Arm Said to Seek at Least $1.5 Billion

By Bloomberg news,

Alibaba Group Holding Ltd.’s finance affiliate is seeking at least 10 billion yuan ($1.5 billion) in a second round of fundraising ahead of a planned initial public offering, a person familiar with the matter said. (more…)

Deals, Fintech news, p2p-payments

January 4, 2016

1494

Magic Caves of Alibaba

TECHINASIA: Alibaba’s spin-off finance subsidiary, Ant Financial, today put out a major new update to its Alipay mobile wallet app. For the first time, the mobile wallet now has ecommerce merchants and shopping baked right into the app. It means that within Alipay, which is China’s top mobile wallet service with over 400 million annual active users, people can now find local services like fresh flowers or food delivery – and then pay for it all in the same app. As in Alibaba’s other marketplaces, all the things are from third-party sellers.

(more…)

China, eWallets, Fintech news, InspirAsia, news

July 8, 2015

1407

E-Commerce Gold Rush In Southeast Asia

TECHCRUNCH: There’s a myopia blinding e-commerce players to the reality of opportunities in Southeast Asia. Everyone is looking at Asian economies from under the shadow China casts on the economic landscape, which can’t help but obscure the picture. (more…)

China, InspirAsia

June 22, 2015

1639

Alibaba confirms government investment for its Alipay and online banking business

Techinasia: Alibaba revealed this afternoon that its finance subsidiary, Ant Financial – which runs Alipay, China’s top online payments service – has received an investment from China’s state-run National Social Security Fund (NSSF). The funding amount is not disclosed.

(more…)

China, Fintech news, Hong Kong, InspirAsia, news

June 19, 2015

1865

Alibaba-Affiliated Online Bank Get Green Light From China Regulator

REUTERS: China‘s banking regulator has given a green light to MYbank, the online bank affiliated with Chinese e-commerce giant Alibaba Group Holding Ltd, to start operating. The bank, owned in part by Alibaba-linked Ant Financial, is expected to launch in June as China’s internet companies increasingly encroach upon the turf of traditional banks. (more…)

China, InspirAsia

May 27, 2015

1906

Industry Convergence In Financial Services Is Accelerating

TECHCRUNCH: These days everyone wants to create the next Uber for anything, and the word “disruption” is mentioned across boardrooms and management meetings in nearly all industries. But while discussing the true meaning of disruption and which fintech startups are worth keeping an eye on, incumbents are at risk of overlooking players that once were customers and partners that can quickly become new digital competitors. (more…)

Analytics, Global trends, Mobile payments/banking

April 27, 2015

Alipay Wallet Follows WeChat With Launch Of City Service Payments

TECHINASIA: China’s tech giants are working hard to make sure that consumers use their phones to pay for things. Today Alipay Wallet, the Alibaba-affiliated mobile wallet, announced it now enables Chinese users to fulfill municipal fees in 12 cities. (more…)

China, InspirAsia

April 22, 2015

Teaching China’s Shoppers How to Spend

WIREDIt’s the perfect  Internet strategy: Position yourself at the mouth of a datastream, then get people to feed into it. Take Google: Because it grows anytime someone surfs the Internet, the company invests huge amounts of time and money making it easier for people to log on—going so far as laying miles of fiber-optic cable in Kansas City and delivering Wi-Fi via  high-altitude balloon in Australia. Or Amazon: Because it’s become many shoppers’ default service for online purchases, the company has flooded the market with cheap devices—from Kindles to voice-controlled speakers—to capture every stray consumerist desire. Alibaba, for its part, had the largest IPO in history because the hugely popular retailer benefits almost anytime someone in China spends money online. So now it’s trying to pump even more money into China’s online economy, by introducing the country’s consumers to the tools of modern finance. (more…)

China, InspirAsia

April 21, 2015