Ant Is Worth 50% More Than Goldman With $150 Billion Valuation
Ant Financial’s latest round of funding is said to value the company at about $150 billion.
(Bloomberg) -- Ant 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.
That would not only make Zhejiang Ant Small & Micro Financial Services Group the world’s most-valuable startup, it would jump the payments business founded by Alibaba Group Holding Ltd. Chairman Jack Ma into the top 15 among banks, insurers and credit providers by market value.
Ant 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.
--With assistance from Lulu Yilun Chen
To contact Bloomberg News staff for this story: Lee Miller in Bangkok at lmiller@bloomberg.net.
To contact the editors responsible for this story: John Liu at jliu42@bloomberg.net, Colin Keatinge, Peter Vercoe
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With assistance from Lee Miller