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Alibaba Affiliate Said to Seek $60 Billion Funding Valuation | Tony Seruga
Mar
07

Alibaba Affiliate Said to Seek $60 Billion Funding Valuation

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  • Ant Financial said to plan closing second round soon
  • CCBI said to be seeking approval to invest in Ant Financial

Alibaba Group Holding Ltd.’s finance affiliate is planning to close its second round of fundraising around mid-April and is seeking a valuation of about $60 billion, a person familiar with the matter said.

Zhejiang Ant Small & Micro Financial Services Group Co., controlled by Alibaba’s billionaire Chairman Jack Ma, has attracted CCB International Holdings Ltd. as a potential investor, although the bank still needs regulatory approval, the person said, requesting not to be named because the matter is private…

Alibaba Affiliate Said to Seek $60 Billion Funding Valuation

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