The fintech giant controlled by billionaire Jack Ma, Ant Financial, said on Friday that it has raised $14 billion from investors, the largest ever private fundraiser on Crunchbase.
The deal values Ant at around $155 billion, a person familiar with the matter said, confirming the Hangzhou-headquartered company as the world’s most valuable unlisted company, or unicorn.
When companies raise capital, management is keen to achieve a valuation higher than the last fundraiser. This buoys investors' confidence and keeps the company's access to capital markets open. However Ant has raised its Series C round at a time when many investors think prices in Asia are sky...
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