Alibaba Backs Ant International in $1.2 Billion Series A Financing

MT Newswires Live

07/21

Alibaba (BABA) has participated in Ant International's $1.2 billion Series A equity financing alongside Ant Group and other international investment institutions, Ant International said Tuesday.

Ant International intends to use the proceeds to boost global expansion and innovation in merchant payments, account management and other financial services for small and medium-sized businesses and enterprises, it said.

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