Ant Financial is just another name for Alipay. Alipay is a payments application and is owned by the Alibaba group and so is Ant Financial. Ant Financial is the highest valued fintech company in the world. Apart from this, it is the most valuable unicorn in the world as well. Ant Financial is valued at around $150 billion. It was founded four years ago in Hangzhou, Zhejiang, China and is headquartered there. At first, it was serving the Chinese nationals and was present only in China but recently is moving all around the world, investing a lot of money in startups.
Ant Financial, within two years of its foundation, had around 450 million annual users. Within a year, the company was valued at $45 billion and this rapid growth just increased and never stopped. The users also have just skyrocketed ever since. The company has numerous investments in numerous locations all around the world today. It is one of the most aggressive companies and is a favorite of Chinese people. The fact that Ant Financial is valued more than Goldman Sachs and Morgan Stanley combined is enough to tell us the enormity of this company from China.
It is the most lavish travelers and loves an investment. The company is having a ball around the world. It is investing and investing bravely in many of the companies. Paytm is its bet in India and it is the fastest growing payments app in the world. Paytm is also the largest unicorn in India and the fact that it is backed by one of the biggest in the world speaks volume about the Indian app.
That said, Ant Financial now has over 1 billion annual users and it is staggering and fascinating, to say the least. Alipay recently tied hands with Barclaycard which amounts to almost Britain’s half credit and debit card transactions. The United Kingdom has been lenient about Chinese companies coming in and investing, one cannot say the same about the US. The UK recently authorized a takeover of WorldFirst, another fintech company which was worth around $700 million. The US, on the other hand, blocked the acquisition of MoneyGram, the authorities cited national security concerns. Even WorldFirst had to shut down its operations in the US so that the deal could go through.
United States of America and China are fighting over trade this year. The countries are in a lockdown mode as the trade war isn’t stopping. Tesla even had to open a factory in China to continue its operations and this is how bad it is getting. Ant Financial is also facing the heat, however, it is not as bad as Huawei as its founder happens to be an ex-military general. Ant Financial is finding it hard to acquire companies and startups in the US because the authorities are really heating things up for the Chinese company.