Ant Group, formerly known as Ant Financial and Alipay, is an affiliate company of the Chinese Alibaba Group. Ant Financial is the world’s highest-valued FinTech company, and most valuable unicorn (start-up) company, with a valuation of US$150 billion.
In March 2019, The Wall Street Journal reported that Ant’s flagship Tianhong Yu’e Bao money-market fund was the biggest in the world, with over 588 million users of Ant’s mobile payments network Alipay contributing, more than a third of China’s population.
Chinese regulators have a bitter history with Ant Group beginning with Jack Ma’s criticism of national watchdogs, a trend that angered President Xi Jinping.
According to a filing to local stock exchanges, Zomato revealed that it plans to raise a total of $1.3 billion through the IPO and has achieved 45% of that figure with its latest funds.
