Friday, June 19, 2015

Alibaba’s online bank locks in funding; now valued over US$45 billion

With this, Ant Financial not only goes head-to-head with rivals Tencent and Juneyao Group, but also state-owned banks Earlier in 2014, Ant Financial, the online payments affiliate of e-commerce giant Alibaba, secured a stamp of approval from the Chinese government to set up its own private bank. Now the company has raised an undisclosed amount...
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