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Tag: ant financial

Lido raises over $7.5 Million in Funding led by Ant Financial
FUNDING

Lido raises over $7.5 Million in Funding led by Ant Financial

Education technology firm Lido Learning has raised over Rs 56 crore in funding led-by Ant Financial-backed BAce Capital to expand its offering to Indian students, the company said on Tuesday. "Lido Learning, an ed-tech startup focusing on live online tutorials, has just closed a USD 7.5 million (about Rs 56 crore) Series B round. The round is led by Ant Financial-backed Bace Capital, and completes the ed-tech startup’s overall funding at USD 10.5 million. Existing investors also participated in the round," the statement said. Lido is BAce Capital’s first ed-tech investment in India, as part of a strategy to continue investing in early stage companies in emerging economies, focusing on India and Southeast Asia. "Our vision is to build 250 million unique learning journeys for 250 m...
Zomato Raises USD 150 mn from Existing Investor Ant Financial
FUNDING

Zomato Raises USD 150 mn from Existing Investor Ant Financial

New Delhi, Jan 10, 2019: India based Online restaurant guide and food ordering platform Zomato has raised USD 150 million (over Rs 1,065 crore) from existing investor Ant Financial as part of a larger funding round. According to a regulatory filing by Info Edge India, which is also an existing shareholder in Zomato, this transaction is at a pre-money valuation of USD 3 billion. The investment is part of a larger funding round of up to USD 600 million, announced by Zomato Founder and CEO Deepinder Goyal in December. "We have raised USD 150 million from Ant Financial as a part of a larger round. Ant Financial has been a steadfast partner in our journey towards achieving market leadership in on-demand food delivery in India, and dining out globally," a Zomato spokesperson said in a ...
Swiggy Beats Zomato In Terms Of Market Valuation
BUSINESS

Swiggy Beats Zomato In Terms Of Market Valuation

The war between food delivery companies is at the peak from the past few days and is expected to continue for a longer time. The companies are continuing to bag in big capital flows with Swiggy being the recent one to join the league. According to the past news that we all know about Swiggy-Zomato war, with the investment of $210 million in its latest round of funding, Swiggy has reached the market valuation of $1.3 billion and has got the tag of Unicorn. Along with this, the big news is that company has exceeded Zomato in the market valuation of $1.1 billion after a $200 million funding round from Chinese online retailer Alibaba’s payment affiliate Ant Financial. Therefore, Swiggy is now leading the food delivery ecosystem. “With this investment, we will continue to widen Swiggy’s off...
Ant Financial Raises $14 Billion From National And International Investors
FUNDING

Ant Financial Raises $14 Billion From National And International Investors

China’s biggest online payment platform Ant Financial Services Group which operates the Alipay mobile payment service, in its recent funding, has raised a huge amount of around $14 billion, with the aim to expand its platform across the globe and bring in latest technologies. Ant Financial which is controlled by Jack Ma is an Alibaba affiliated fintech firm. The investment of the firm is being reviewed as the biggest-ever single fundraising globally by any private sector company. In a statement, Ant Group told that the funding comprised of both U.S. dollar and Chinese yuan tranches, where the dollar share made up over $10 billion and the yuan tranche was mainly contributed by the existing shareholders. "Now, with the help of our partners, we are going to accelerate our strategy," Ant...
Zomato’s Chief Business Officer Mukund Kulashekharan Calls a Quit
News

Zomato’s Chief Business Officer Mukund Kulashekharan Calls a Quit

Online Restaurant Search and Food Delivery Platform, Zomato's chief business officer Mukund Kulashekharan has resigned from the post after a three-year stint, a report in a financial daily stated. Kulashekhran is expected to join local marketplace UrbanClap and is currently in talks to head certain verticals at the on-demand services platform, cited ET according to the people familiar with the matter. Mukund had first joined Zomato in 2015 and was promoted to the post of the chief business officer. Before that, he was serving as a global business head in online catering firm. Mukund is an alumnus of the Tuck School of Business at Dartmouth and has done computer science engineering from National Institute of Technology, Tiruchirapalli. Apart from Mukund, Zomato has witnessed man...
Alibaba Acquires Pakistan’s Leading E-Commerce Company Daraz
ACQUISITION

Alibaba Acquires Pakistan’s Leading E-Commerce Company Daraz

Chinese Internet giant Alibaba has bought Pakistani e-commerce firm Daraz in an undisclosed deal in order to expand its operations in South  Asia. The deal marks Alibaba's second wave of international expansion aiming to enter South Asia. Daraz was founded in 2012 and is backed by European Tech Incubator Rocket Internet. It operates in Bangladesh, Myanmar, Sri Lanka, Nepal and Pakistan. This is the second time when Alibaba has bought a Rocket company, the first being Lazada in South East Asia in 2016. The official announcement for the deal is awaited but has been confirmed by a company spokesperson, according to the sources. Alibaba had initially focused on India backed by Paytm but now it aims to spread its wings into lower profiles which are hugely populated in South Asia. Pakis...
Jack Ma’s Ant Financial to Raise $9B Ahead of IPO, Become World’s Biggest Unicorn
Market

Jack Ma’s Ant Financial to Raise $9B Ahead of IPO, Become World’s Biggest Unicorn

Chinese billionaire Jack Ma's financial firm is all set to make it to the world's biggest companies. Alibaba Group Holding Ltd's derivate company, Ants Financial Group is preparing to raise $9 billion which is much above its expected IPO in a private funding round as per the sources. Being no stranger to funding, the company picked $4.5 billion Series B round in April 2016. Moreover, it has also made in some strategic acquisitions and investments to pave a way for greater financial benefits for itself. It has already acquired HelloPay and has made investments into Korea's Kakao Pay in February 2017. Company's recent attempt to acquire Moneygram early this year was knocked down by U.S government over security concerns.It's expected IPO valuation and newly earned revenue can give a muc...
Alibaba and Ant Financial Invested Net $500M in Zomato and BigBasket
FUNDING

Alibaba and Ant Financial Invested Net $500M in Zomato and BigBasket

Alibaba's payment affiliate- Ant Financial has invested $200 million in restaurant discovery and food ordering app Zomato, latest stock exchange filings by Zomato's largest stakeholder- InfoEdge revealed. InfoEdge currently holds 45% stake in Zomato, and informed Bombay Stock Exchange on Thursday that the funding round includes a $50 million secondary share sale to Ant Financials, which will dilute its stake in Zomato to about 30.9% post the capital infusion. The primary and secondary shares of Zomato,value it at $880 million pre-money, according to the statement filings. Pixr8 reported in Semptember that Zomato may receive a $200 million funding from China’s payments giant Ant Financial Services Group, valuing it around $1 billion. “The expected date of completion of sale/disp...
Alibaba’s $60 Billion Finance Arm Seeks Growth Before IPO: Sources
CHINA

Alibaba’s $60 Billion Finance Arm Seeks Growth Before IPO: Sources

Investors gearing up for the initial public offering of Ant Financial, the $60 billion online finance arm spun off by e-commerce giant Alibaba, will have to wait until at least late 2017 as the business puts growth first, sources say. Sources with knowledge of the plans said Ant Financial, whose anchor business is Alipay, China's largest online payments service, is focusing on expanding its existing 450 million-strong army of daily users, adding merchants and customers. Ant had yet to contact Chinese regulators to start the lengthy listing process and join a queue of more than 700 companies waiting to list. In addition to online payments, Ant Financial also offers services from wealth management to credit scoring, micro lending and insurance. Alibaba Group set up Alipay in 2004 in th...