05/12/20191min
Ant Financial is building a roughly $1 billion investment fund to back start-ups across Southeast Asia and India.
Alibaba’s financial technology arm is looking to expand its reach across the region using a huge war chest. Plans for the fund are at an early stage. Jack Ma’s financial group is keen to expand outside of China, where rival Tencent has a strong grip in the personal finance space.
Ant Financial Group also expressed interest in bidding for a digital banking license in Singapore