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Ant Financial raises US$14B in latest funding round

China's Ant Financial Services Group raised about US$14 billion in its latest funding round.

The fundraising consisted of a yuan-denominated tranche raised from domestic investors and a U.S. dollar-denominated tranche raised from international investors.

Investors in the latest round included GIC Pvt. Ltd., Khazanah Nasional Bhd., Warburg Pincus LLC, Canada Pension Plan Investment Board, Silver Lake Partners, Temasek Holdings (Pte.) Ltd., General Atlantic LLC, funds and accounts advised by T. Rowe Price Associates Inc., Carlyle Group LP, Discovery Capital Management, Baillie Gifford & Co and Primavera Capital Group.

The Alibaba Group Holding Ltd. affiliate did not disclose the valuation from the latest fundraising, but previous reports had the company valued at US$150 billion.

The company plans to use the funds to accelerate its payment platform Alipay's globalization plans and to invest in developing new technology.