Alibaba’s finance spinoff Ant Financial is preparing a $1bn fund, according to reports.
In Brief:
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The fund will reportedly invest in FinTech startups across India and Southeast Asia.
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It is expected to focus on payments and online finance.
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Ant invested significantly in Paytm already this week.
What does this mean?
Ant Financial is now focusing on expanding outside of China where the market is competitive. Its Paytm deal cover India and now it will be interesting to see where the companies goes next across the emerging SEA region.
