Ant Financial, a spinoff of Chinese e-commerce giant Alibaba, has raised $14 billion in new funds from investors, according to CNBC.
Ant Financial operates Alipay, one of China's largest mobile payment platforms. The new money will be used to expand Alipay's international footprint and develop financial services for underbanked customers.
The new funding comes from firms including Temasek Holdings, GIC, Silver Lake, Canada Pension Plan Investment Board and Khazanah Nasional Berhad.