Ant International, the Singapore-based payments and fintech firm spun out of Ant Group as an independent company in 2024, raised $1.2B in a private equity round to fund international expansion. Ant Group and Alibaba both took part without disclosing how much they committed, and no lead investor was named. Ant International carried a $10B valuation going into the round, which Reuters reported last month was targeting roughly $1B. Proceeds go toward merchant payments, enterprise account management, and adjacent financial products across Asia, Europe, the Middle East, and Latin America, where the firm plugs into banks, card networks, and mobile payment providers. Chinese regulators halted Ant Group's own listing in 2020 shortly before its debut, which led Jack Ma to give up control of the company.
