The funding supports overseas expansion, AI investment and cross-border financial services as the Singapore-based company advances blockchain payments infrastructure and stablecoin licensing plans.
Ant International said it has completed a Series A financing round of about $1.2 billion, with backing from Ant Group, Alibaba, existing shareholders and global investment firms, as it steps up overseas expansion, AI investment and cross-border financial services. The Singapore-based company said the funds will support international growth and services including cross-border payments and global accounts, while helping merchants expand through its fintech offerings. The raise follows months of investor interest after Bloomberg reported in June that Ant International had explored a roughly $1 billion fundraising at a valuation of at least $10 billion following eight consecutive quarters of profitability. Ant International has become the centerpiece of Ant Group’s overseas business and is building out blockchain-based payments infrastructure alongside regulated digital asset initiatives, including previously reported plans to seek stablecoin issuer licenses in Hong Kong, Singapore and Luxembourg.