Ant Financial, the affiliate of Chinese e-commerce giant Alibaba that runs Alipay, confirmed on Tuesday that it had raised $4.5 billion in what is the world's largest single private funding round for an internet company.
The funding round values the company at roughly $60 billion, according to a person familiar with the matter, aspreviously reported by CNBC.
Chinese sovereign wealth fund China Investment Corporation together with China Construction Bank led the round. They were joined by existing Ant Financial shareholders which include China Life; China Post Group, the parent company of Postal Savings Bank of China; China Development Bank Capital and Primavera Capital Group.
The round makes Ant Financial the second-most valuable private technology firm behind U.S. ride hailing app Uber, which is worth over $62 billion, and ahead of Chinese smartphone maker Xiaomi, which has a valuation of $45 billion.