Ant Financial Services Group, formerly known as Alipay, is an affiliate company of the Chinese Alibaba Group. It is a technology company that brings inclusive financial services to the world.
Ant Financial is dedicated to bringing the world more equal opportunities through building a technology-driven open ecosystem and working with other financial institutions to support the future financial needs of society.
Ant Financial, officially founded in October 2014, originated from Alipay, initially an escrow service, founded in 2004. The company has it's headquarter in Hangzhou, Zhejiang, China with over 15 additional offices across Asia, EU and America.
Ant Financial Services Group is dedicated to using technology to provide inclusive financial services to individuals as well as small and micro businesses. The company uses technologies, such as blockchain, AI, big data, Internet of Things, and cloud computing, make us uniquely placed to achieve our mission of bringing the world equal opportunities.
Ant Financial is building an open ecosystem to bring financial services to the unbanked and underbanked, all while also seeking to enable traditional financial institutions to provide services in a more efficient way. It has developed online platforms to provide a wide range of products and services, covering payments, loans, third-party insurance and wealth management that focus on the financial needs of small businesses and individuals.
Ant Financial operates Alipay, the world's largest mobile and online payments platform as well as Yu’e Bao, the world's largest money-market fund. It also runs Sesame Credit, a third-party credit rating system. As of September 2017, Ant Financial unveiled its facial recognition payment technology through its Alipay services.
Ant Financial is backed to global investors, Banks and other financial institutions such as Temasek Holdings, Sequoia Capital, China Investment Corp (CIC), CCB Trust, China Life, China Post Group, China Development Bank Capital and Primavera Capital Group. On 9 June 2018, the company raised around US$14 billion, which the "the biggest-ever single fund-raising globally by a private company". The company has secured over $22B in funding to date.
Ant Financial is the highest valued fintech company in the world, and the world's most valuable unicorn (start-up) company, with a valuation of US$150 billion. The company has acquired helloPay, MoneyGram International & EyeVerify as well as made over 50 investments to date.