Alibaba's Ant Financial valued at $30 billion amid funding talks: Caixin

Ant Financial Services Group, an affiliate of Chinese e-commerce titan Alibaba, is in negotiations for funding that have reached a "critical stage" and value the company at $30 billion, news magazine Caixin reported on Monday. The report cited unidentified sources as saying China's state-backed social security fund, Postal Savings Bank of China, and CDB Capital, an investment arm of China Development Bank, would be among the strategic investors in discussions for stakes of 5 percent, 3 percent and 3 percent respectively. Alibaba spokeswoman Teresa Li, speaking on behalf of Ant Financial, said the company did not comment on market rumors or speculation as a matter of policy. Ant Financial runs Alipay, China's most widely used online payment platform and which is seen as a crucial part of Alibaba's business.



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