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Mar

07

Alibaba Affiliate Said to Seek $60 Billion Funding Valuation

By Tony Seruga

Ant Financial said to plan closing second round soon
CCBI said to be seeking approval to invest in Ant Financial

Alibaba Group Holding Ltd.’s finance affiliate is planning to close its second round of fundraising around mid-April and is seeking a valuation of about $60 billion, a person familiar with the matter said.

Zhejiang Ant Small & Micro Financial Services Group Co., controlled by Alibaba’s billionaire Chairman Jack Ma, has attracted CCB International Holdings Ltd. as a potential investor, although the bank still needs regulatory approval, the person said, requesting not to be named because the matter is private…

Alibaba Affiliate Said to Seek $60 Billion Funding Valuation

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