https://wccftech.com/ant-financial-hits-150-billion-valuation-eyes-global-finance/

Ant Financial. You wouldn’t be one of the only ones sitting there thinking to yourself “who on earth is Ant Financial?!” But as little known as it is to the Western Consumer, this privately held spin-off from Alibaba is actually one of the largest financial institutions in the world. That’s if the recent Series C funding round which took place is anything to go by with rumours swirling of a $150 billion valuation on $14 billion raised. Ant Financial now competes with global banks on valuation and services as well.

Used predominantly in China due to its Alipay product which was of course entrenched in Alibaba (NYSE:BABA), the company surpassed Paypal as the largest digital payment platform way back in 2013. Alibaba spun it off when it went public back in 2014 which was somewhat controversial at the time given how closely the fortunes of the two companies were intertwined and has since taken up an option to own a third of the company it divested.