Jul 09, 2015 01:55 PM

Innovator Ant Financial Climbs Fundraiser Hill

(Beijing) – Powerful investors including insurance companies and China's national pension fund recently plowed about 12 billion yuan into the successful and expanding money management firm, which is related to e-commerce giant Alibaba Group Holding Ltd.

The recently completed private placement, details of which Caixin obtained from sources close to the matter and business registration documents, has valued Ant Financial Services Group at more than US$ 40 billion, which would make it one of the world's most valuable privately held Internet companies.

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