BEAMSTART Logo

Ant Financial to invest $1 Billion for startups in SouthEast Asia and India

The company also plans to seek a virtual banking license in Singapore.


Ant Financial to invest $1 Billion for startups in SouthEast Asia and India | BEAMSTART News

- From our Sponsors -

Ant Financial is raising US $1billion to invest in SouthEast Asia and India.

The investment would be in line with Ant's policy to expand outside of China, where its growth is slowing due to stiff competition from Tencent and others.

- Featured Sponsor -

Ant Financial provides a wide array of banking and financial services in China.

The internet finance company is looking to back more startups in Southeast Asia and India that focus on payments and online finance.

Ant Financial, formally known as Zhejiang Ant Small & Micro Financial Services Group, has stated it plans to seek a virtual banking license in Singapore.

Ant has been investing in 160 companies over the past five years with about 1.2 billion users globally as of June.

The company holds stakes in regional players including India’s Paytm, in which it poured another investment worth $400 million earlier this month.

Ant Financial Vice President Ji Gang said the company is raising a new fund for startups with higher valuations but did not disclose the fund size or potential targets.

- From our Sponsors -

BEAMSTART is a Global Community and News Portal for Entrepreneurship. We cover the latest news and bring together a global network of CEOs/founders, Investors, Business Leaders, and Professionals.

 

Download the Community App

Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2021 BEAMSTART. All Rights Reserved (Legal).