Deals

Ant Is Worth 50% More Than Goldman With $150 Billion Valuation

China fintech leader’s reported funding round lifts valuation
Berkshire, JPMorgan are each worth more than $375 billion

The loading page for Ant Financial Services Group's Alipay application, an affiliate of Alibaba Group Holding Ltd., is displayed on an Apple Inc. iPhone in an arranged photograph taken in Hong Kong, China, on Wednesday, July 26, 2017. Alibaba is scheduled to release second-quarter earnings figures on Aug 10.Photographer: Anthony Kwan/Bloomberg

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By Bloomberg News

April 11, 2018 at 5:16 AM UTC

This article is for subscribers only.

Ant Financial’s latest round of funding, reported to involve Singapore’s Temasek Holdings Pte, is said to value the Chinese provider of mobile payments at about $150 billion -- 50 percent more than Goldman Sachs Group Inc.’s market capitalization.

That would not only make Zhejiang Ant Small & Micro Financial Services Group the world’s most-valuable startup, it would jump the payments business founded by Alibaba Group Holding Ltd. Chairman Jack Ma into the top 15 among banks, insurers and credit providers by market value.