Ant Financial started with Alipay established in 2004, and 20 14 and 10 were formally established. 2065438+July 2005, Ant Financial completed the A round of financing, and introduced eight investment projects including the National Social Security Fund, CDB Finance and several major insurance companies. 2065438+April 2006, Ant Financial completed a series B financing of US$ 4.5 billion, which was led by CIC Overseas and CCB, followed by A-round investors such as China Post Group and four major insurance funds. The overall valuation of Ant Financial jumped to $60 billion.

Zhang Yong, CEO of Alibaba, said: "This shareholding is another important milestone in our long-term strategic cooperation with Ant Financial. Holding the equity of Ant Financial, Alibaba will be able to work more closely with China's largest mobile payment and TechFin platform, thus promoting the growth of user scale and user experience and better sharing the growth opportunities of the global financial technology industry. "

Jing Xiandong, CEO of Ant Financial, said that Alibaba is a China company founded and actually controlled by China people. Ant Financial and Alibaba are in the same strain in mission and culture. Based on the closer equity relationship, the two sides will cooperate more closely around eWTP in serving small and micro enterprises and the real economy, exploring rural e-commerce and inclusive finance, and exploring the globalization of enterprises in China. "This will help us better make Ant Financial a national enterprise in China."

According to the agreement, after Alibaba becomes a shareholder, Ant Financial no longer needs to pay 37.5% of the pre-tax profit to Alibaba every year. This means that the cash outflow of Ant Financial will be greatly reduced and the overall anti-risk ability will be improved. In addition, the corresponding intellectual property rights of Fenrun will be transferred from Alibaba to Ant Financial, which will effectively enhance the integrity of the core intellectual property rights of Ant Financial and its subsidiaries. Zhao Xianghuai, chief financial analyst of Essence Securities, said that the transaction actually cleared the way for Ant Financial to go public in the future.