Ant Financial doesn’t want IPO yet, its key focus is investment in technologies

27 October 2017

Ant FinancialAnt Financial, the world’s most valuable fintech company based in Hangzhou, announced this week that it has no current priority to launch an Initial Public Offering, and instead is focused on making more investments into emerging startups and artificial intelligence technology. Total funds raised by Ant Financial in April 2016 amounted to $4.5 billion, with $3 billion allegedly sought earlier this year.

Douglas Feagin, a President of International Business at Ant Financial, as reported by the Wall Street Journal, noted that the IPO is currently not urgent, stressing that the time is right for implementing the AI technology and bringing it to more sophisticated levels than ever. He said that Ant Financial has plans to invest over $15 billion within the coming years into the research and development projects.

To date, the company has invested more than $16 billion in over 50 startups worldwide across a wide array of industries, including online lending, insurance and technology. Earlier this year Ant Financial entered into a deal with Indonesian Emtek Group over the launch of the joint-venture based on the country’s heavily used and downloaded messenger application BBM, operated by Emtek business unit in Indonesia.

Blockchain techs
Mastercard may launch a payment system for fast cryptocurrency transactions
Banking techs
Korea digitizes mortgage and loan documents on a blockchain platform
Writing a White Paper for an ICO: expert recommendations
Show more posts...