Ant Financial, Alibaba’s online payments affiliate, has completed a fund raising that values the company at $45bn-$50bn, according to people close to the Chinese ecommerce group.
The $45bn-$50bn valuation would place Ant Financial among the world’s most valuable private technology companies, alongside smartphone maker Xiaomi and US car hailing app Uber.
Xiaomi was valued at $45bn last year, while Uber is reportedly in the process of raising funds that value it at $50bn.
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