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INTERNET | Internet Software & Services / Payments
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Investments

141

Portfolio Exits

17

Funds

1

Partners & Customers

10

About Ant Group

Ant Group is a technology company that offers financial services, serving small and micro enterprises and consumers. Ant Group is dedicated to building an open ecosystem of technologies while working with other financial institutions to support the future financial needs of society. The company's products include Alipay, a payment and lifestyle platform, Ant Fortune, a comprehensive wealth management app, and Zhima Credit, an independent, private, alternative credit service.

Ant Group Headquarter Location

Z Space No. 556 Xixi Road

Hangzhou, Zhejiang ,

China

+86 571 2688 8888

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing Ant Group

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Ant Group in 6 Expert Collections, including Co-Working & Co-Living Spaces.

C

Co-Working & Co-Living Spaces

16 items

Companies offering communal working and living spaces.

F

Fintech 250

248 items

F

Future of Fintech 2018

22 items

The Future of Fintech 2018 is a one-of-a-kind gathering of the world's largest financial institutions, best fintech startups, and most active venture investors. This collection contains all startups, investors, moderators and speakers from the Future of Fintech 2018 lineup.

C

Cashier-Free / Cashless Retail

11 items

Companies offering automated checkout solutions for retailers or operating cashless, cashier-free retail stores.

P

Payments

1,605 items

Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.

2

2018 Fintech 250

250 items

250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.

Ant Group Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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Ant Group Rank

Latest Ant Group News

Thailand’s fintech startup Ascend Money lands $150M at a $1.5B valuation

Sep 27, 2021

Ascend Money , the Thailand-based fintech startup behind TrueMoney, an e-wallet service, announced today it has raised a $150 million Series C round at a valuation of $1.5 billion. The Series C round was led by Charoen Pokphand Group , which is a major shareholder of Ascend Money, with participation from Bow Wave Capital Management and returning backer Ant Group . Ascend Money will use the proceeds to grow its e-wallet application – TrueMoney Wallet – and expand its digital financial services ranging from digital lending and digital investment to cross border remittances in Southeast Asia. The company, which was founded in 2013, also plans to strengthen its global operations across six countries — Thailand, Indonesia, Vietnam, Myanmar, Cambodia, and the Philippines. Since the coronavirus outbreak, e-payments via TrueMoney Wallet have grown exponentially because of social distancing measures and growing public awareness of contactless transactions across the region, Tanyapong Thamavaranukupt, co-President of Ascend Money told TechCrunch. Its users in Thailand have grown from 17 million in early 2021 to 20 million as of now, while the transactions of its online payment use case surged over 75%, Thamavaranukupt said. “The growth in e-payment suggests changing consumers’ spending habits as Southeast Asia moves toward a digital economy and a cashless society,” Thamavaranukupt said. “The pandemic’s disruptive effects have accelerated the growth of the digital economy across Southeast Asia,” Itai Lemberger, founder and CEO of Bow Wave Capital Management said. Its total payment volume stood at $14 billion in 2020 across the six countries in Southeast Asia, representing 84% growth between 2019 and 2020, according to its statement. About 70% came from Thailand while 30% came from the international market, the co-President Thamavaranukupt said. In Thailand, Ascend Money has about 70% of market share based on its own research, Thamavaranukupt said. Ascend Money tells TechCrunch it has amassed a total of 50 million users so far through TrueMoney and offline channels including approximately 88,000 TrueMoney agent networks, which is its core strength for regional expansion. The e-wallet service also serves as a payment channel for B2B, ranging from big brands to local SME owners as well as street market entrepreneurs. TrueMoney Wallet platform provides digital loans service to the customers including small business entrepreneurs, who don’t have traditional credit scores to access the digital loans, along with the payment service, Thamavaranukupt said. “Apart from e-wallet, we are an agent-based payment and remittance service provider. Since last year, we’ve also rolled out TrueMoney Wallet for agent [networks] and migrated our offline agent to the online platform, which would help enhance and digitize their operations,” Thamavaranukupt said. True Money agents are local entrepreneurs, who registered with Ascend Money to earn additional income by being their agents to provide services like bill payment, phone top-up and domestic and cross-border remittance services, he explained. “We provide TrueMoney Wallet and the TrueMoney Agent service in some other countries outside Thailand. Most users are unbanked and the underbanked population with limited access to basic financial services,” Thamavaranukupt said. “Ascend Money provides a financial platform of opportunity for those financially excluded as well as SMEs around the region. The company’s success is also a testament to Thailand’s capability and strong ecosystem to support domestic fintech firms and startups for overseas expansion,” Ascend Money founder and chairman of the board Suphachai Chearavanont. Last year, Ascend Money also opened a service for expatriates like Myanmarese and Cambodian migrant workers in Thailand, enabling them to register on TrueMoney Wallet and transfer money to their family in the homeland, Thamavaranukupt said. Ascend Money considers going public after hitting $1.5 billion of its valuation, co-President Monsinee Nakapanant told TechCrunch without providing exact timeline.

Ant Group Investments

141 Investments

Ant Group has made 141 investments. Their latest investment was in Ascend Money as part of their Series C on September 9, 2021.

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Ant Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/27/2021

Series C

Ascend Money

$150M

No

Bow Wave Capital, and Charoen Pokphand Group

12

9/16/2021

Private Equity

Wanda Commercial Management Group

$5,990.67M

Yes

CITIC Capital, Country Garden, PAG, and Tencent Holdings

2

9/15/2021

Series C

Smart Yoke

$23.32M

Yes

Weed Ventures, and YZ Capital

3

8/26/2021

Corporate Minority

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$99M

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10

6/16/2021

Corporate Minority

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$99M

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10

Date

9/27/2021

9/16/2021

9/15/2021

8/26/2021

6/16/2021

Round

Series C

Private Equity

Series C

Corporate Minority

Corporate Minority

Company

Ascend Money

Wanda Commercial Management Group

Smart Yoke

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Amount

$150M

$5,990.67M

$23.32M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Bow Wave Capital, and Charoen Pokphand Group

CITIC Capital, Country Garden, PAG, and Tencent Holdings

Weed Ventures, and YZ Capital

Sources

12

2

3

10

10

Ant Group Portfolio Exits

17 Portfolio Exits

Ant Group has 17 portfolio exits. Their latest portfolio exit was Touch 'n Go on July 26, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/26/2021

Acquired

$991

1

7/16/2021

IPO

3

6/30/2021

IPO

$991

1

00/00/0000

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$991

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10

00/00/0000

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10

Date

7/26/2021

7/16/2021

6/30/2021

00/00/0000

00/00/0000

Exit

Acquired

IPO

IPO

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Companies

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Valuation

$991

$991

$991

Acquirer

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Sources

1

3

1

10

10

Ant Group Acquisitions

8 Acquisitions

Ant Group acquired 8 companies. Their latest acquisition was World First on February 14, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/14/2019

Growth Equity

$991

Acquired

7

8/17/2017

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$991

$99M

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10

4/19/2017

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$99M

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10

9/13/2016

Series A - II

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$991

$99M

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10

9/15/2015

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$991

$99M

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10

Date

2/14/2019

8/17/2017

4/19/2017

9/13/2016

9/15/2015

Investment Stage

Growth Equity

Series A - II

Companies

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Valuation

$991

$991

$991

$991

Total Funding

$99M

$99M

$99M

$99M

Note

Acquired

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Sources

7

10

10

10

10

Ant Group Fund History

1 Fund History

Ant Group has 1 fund, including Ant Financial Internet Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/20/2015

Ant Financial Internet Fund

$160M

1

Closing Date

5/20/2015

Fund

Ant Financial Internet Fund

Fund Type

Status

Amount

$160M

Sources

1

Ant Group Partners & Customers

10 Partners and customers

Ant Group has 10 strategic partners and customers. Ant Group recently partnered with Shopify on August 8, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

8/4/2021

Licensor

Shopify

Canada

Alipay and Shopify partnership expansion to bolster Hong Kong ecommerce

With only one integration , local Hong Kong SMEs of Shopify will now be enabled to connect with a significant number of users of four Asian digital wallets , namely Alipay , AlipayHK , GCash , and Touch ` n Go , without paying any setup fee .

2

11/17/2020

Partner

Shopify

Canada

10/20/2020

Partner

Merchantrade

Malaysia

Merchantrade in Technology Partnership with Ant Group to Offer Inclusive Remittance Services to Consumers in Asia

KUALA LUMPUR , Malaysia , Oct. 20 , 2020 / PRNewswire / -- Malaysia 's largest Money Services Business operator , Merchantrade has entered into a partnership with Ant Group , the leader in the development of open platforms for technology-driven inclusive financial services .

3

10/16/2020

Partner

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10

9/6/2020

Vendor

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10

Date

8/4/2021

11/17/2020

10/20/2020

10/16/2020

9/6/2020

Type

Licensor

Partner

Partner

Partner

Vendor

Business Partner

Shopify

Shopify

Merchantrade

Country

Canada

Canada

Malaysia

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News Snippet

Alipay and Shopify partnership expansion to bolster Hong Kong ecommerce

With only one integration , local Hong Kong SMEs of Shopify will now be enabled to connect with a significant number of users of four Asian digital wallets , namely Alipay , AlipayHK , GCash , and Touch ` n Go , without paying any setup fee .

Merchantrade in Technology Partnership with Ant Group to Offer Inclusive Remittance Services to Consumers in Asia

KUALA LUMPUR , Malaysia , Oct. 20 , 2020 / PRNewswire / -- Malaysia 's largest Money Services Business operator , Merchantrade has entered into a partnership with Ant Group , the leader in the development of open platforms for technology-driven inclusive financial services .

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Sources

2

3

10

10

Ant Group Team

5 Team Members

Ant Group has 5 team members, including current Chief Executive Officer, Eric Xiandong Jing.

Name

Work History

Title

Status

Eric Xiandong Jing

Chief Executive Officer

Current

Cyril Xinyi Han

Chief Financial Officer

Current

Xingjun Ni

Chief Technology Officer

Current

Songbai Zeng

Chief People Officer

Current

Tong Chen

Investment Partner

Current

Name

Eric Xiandong Jing

Cyril Xinyi Han

Xingjun Ni

Songbai Zeng

Tong Chen

Work History

Title

Chief Executive Officer

Chief Financial Officer

Chief Technology Officer

Chief People Officer

Investment Partner

Status

Current

Current

Current

Current

Current

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