What does Ant Financial own besides WorldFirst?

FinanceAsia takes a look at what the world’s biggest unicorn has acquired over the years.

Ant Financial said on Thursday it has fully acquired London-based currency exchange service WorldFirst, flexing its financial clout. FinanceAsia takes a look at how far it has come in fulfilling its global ambitions. 

The $700 million price tag makes WorldFirst the largest overseas purchase by Ant Financial since its inception in October 2014.

It is also the Chinese online payment giant's first major foray into a developed market after making smaller investments in emerging markets like Bangladesh, Pakistan and Indonesia.

"Alipay and WorldFirst’s capabilities and international footprints are highly complementary, and together, we will be able to better serve small businesses and promote financial inclusion around the world," Ant Financial said in a statement. 

"The tie-up will add WorldFirst’s international online payments and virtual account products to Alipay’s broad range of technology solutions, enabling us to reach a greater number of customers, especially in the fast-growing area of cross border e-commerce," according to the statement.

The Hangzhou-based company is now worth over $155 billion after snapping up a record-breaking $14 billion from institutional investors in the world’s largest ever round of private fundraising last year.

Ant Financial is best known as the operator of Alipay, China’s biggest mobile payment platform, as well as financial service like online money fund Yuebao and micro-loan app Ant Credit Pay.

Self-developed services aside, Ant Financial has built an ecosystem around its financial offerings through external acquisitions.

Through the years Ant Financial has added to its portfolio technology companies that support the transformation of its financial services. It has also acquired stakes in companies that use Alipay as their main form of payment, most notably online consumer and transport-related service providers.

The following charts show Ant Financial’s investments in financial services, technology and big data, transport and logistics as well as consumer and services over the years.

We include only deals involving investment over $10 million.

 

Target Company

Investment amount

Co-investors

Description

 

Financial Services

Postal Savings Bank of China

$7 billion

Temasek

JP Morgan

UBS

CPPIB

Li Ka-shing

China’s largest bank by number of branches

WorldFirst

 

$700 million N/A  British currency exchange service

Cathay Insurance

$185 million

N/A

Chinese insurance arm of Taiwan’s Cathay Financial

Tenelor Microfinance Bank

 

$185 million

N/A

Pakistani Microlender

Trust Mutual Life Insurance

$155 million

Sinolink Securities

Tianhong Asset Management

China's first cooperative life insurer

Akulaku

$40 million

Sequoia Capital

Qiming Venture Partners

Indonesian financial services provider

Shumi Fund

 

$31 million

N/A

Mutual fund sales and financial information provider

China Zheshang Bank 

$30 million

Zhejiang provincial government

Yancoal

Hangzhou-based lender

Tianjin Climate Exchange

Undisclosed

N/A

Carbon market cap-and-trade scheme exchange

Nonglian Zhongxin Technology 

Undisclosed

China Insurance

Agriculture finance and insurance services provider

bKash

 

Undisclosed

N/A

Bangladesh mobile finance app

 

Technology and Big Data

Face++

$460 million

Russia-China Investment Fund

Foxconn

SK Group

Facial recognition startup

EyeVerify

$100 million N/A American optical recognition technology developer

DeePhi Tech

$40 million

Samsung

Artificial intelligence and deep learning startup

I-xiaoma

 

$38 million

N/A

Developer of smart public transport payment systems

Suntime Information Technology

$38 million

N/A

Chinese private equity fund database

Shenzhen Shun Hui Information Technology

 

$38 million

N/A

Smart parking solutions provider

Tanworth

Undisclosed

N/A

Digital product rental app

 

Transport & Logistics

Didi Chuxing

$4.5 billion

Tencent

Softbank

China Merchants Bank

China’s biggest ride-hailing app

Ofo

$866 million

Alibaba

Haofeng Group

Tianhe Capital

Junli Capital

Bike-sharing app

Hellobike

$350 million

Shenzhen Capital Group

Bike-sharing app

Souche

$100 million

Car Inc

Second-hand car trading app

 

Consumer and services

Ele.me

$1.25 billion

Alibaba

Food ordering app

Koubei

$966 million

Alibaba

Service booking app

Yum China

$460 million

Primavera Capital

Fast food restaurant chain

Qudian

$200 million

Kunlun Group

Source Code

BlueRun Ventures

Online consumer lender

Octopus

$94 million

CCB International

Tempus Group

Travel app

Yazuo

$31 million

N/A

Client management and marketing business services provider

Anjuke

$30 million

Yunfeng Capital

Giant Interactive

Real estate rental platform

Schoolpal Online

$16 million

N/A

Developer of data management system for private schools

Xingbianli

Undisclosed

Sequoia Capital

China Renaissance

Staff-less intelligent store operator

Source: Company announcements, FinanceAsia Research

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