Ant Financial

NVIDIA and OpenAI’s capped returns

Editor’s note: Starting as a trial, the Extra Crunch Daily newsletter is going to be delivered Tuesday-Saturday, in order to faithfully analyze the happenings in the startup and financial world Mond

Tiger Global and Ant Financial lead $500M investment in China’s shared housing startup Danke

A Chinese startup that’s taking a dorm-like approach to urban housing just raised $500 million as its valuation jumped over $2 billion. Danke Apartment, whose name means “eggshell” i

Apple is offering interest-free financing to boost iPhone sales in China

Apple is looking to get over its sales woes in China by offering prospective customers interest-free financing with a little help from Alibaba. Apple’s China website now offers financing package

Alibaba hits the gas on mobility as its bike-sharing service adds carpooling

Carpooling is heralded to be environmentally friendly and money-saving, but in smog-stricken China, the transportation option became a source of public concerns after two female passengers got murdere

Alibaba’s Ant Financial buys UK currency exchange giant WorldFirst reportedly for around $700M

Ant Financial, the financial services behemoth affiliated with Chinese e-commerce giant Alibaba, has made its first big move into Europe. It’s acquired London-headquartered payments company Worl

China’s Alipay digital wallet is entering 7,000 Walgreens stores

China’s payments heavyweights have been following tourists abroad as their home market gets crowded. Ant Financial, Alibaba’s financial affiliate with a valuation of $150 billion, now see

PayPal shutters Malaysia office as part of customer service reorg

Payment giant PayPal has closed its office in Malaysia as part of a restructuring of its customer support teams. The office, located in capital city Kuala Lumpur, was home to a team of customer servic

Alibaba’s alternative to the app store reaches 230M daily users

WeChat isn’t the only one doubling down on lite apps. Ever since China’s messaging titan introduced “mini programs” two years ago, a handful of its peers, including Alibaba and

China’s Mobike will rename to Meituan Bike as its parent takes the wheel

One of China’s top bike-rental apps is entering a new phase. Mobike, which neighborhood services giant Meituan-Dianping gobbled up last April, is changing its name to Meituan Bike as part of a

Momo, Vietnam’s top payment app, lands big Series C investment led by Warburg Pincus

Fintech in Southeast Asia continues to pique the attention of global investors. Alibaba, Tencent and others have jumped into the region and deployed hundreds of millions of dollars, and now Warburg P

Indonesian e-commerce unicorn Bukalapak raises $50M

Chances are you may be familiar with Tokopedia, especially after it commanded a $7 billion valuation last November when it raised $1.1 billion from investors like Alibaba and SoftBank’s Vision F

New policy puts revenue squeeze on China’s payments giants

The era that saw China’s mobile payments providers making handsome interest returns on client money has officially ended. Starting this week, non-bank payments companies must place 100 percent o

WeChat is quietly ranking user behavior to play catch-up with Alibaba

More than one billion people leave behind trails of information on WeChat every day as they use the messenger to chat, read, shop, hail rides, rent umbrellas and run many other errands. And the Tencen

Global VC market sees highest-ever concentration of supergiant dollar volume in Q4 2018

Is the market mostly buoyed by the billions raised by the biggest private tech companies, or is a rising tide in this extended aquatic metaphor raising all ships?

Didi launches lending and insurance as new regulation threatens to lower driver numbers

Didi Chuxing, China’s dominant ride-hailing firm, is rolling out a range of financial and insurance services as it looks to fortify its service against a range of challenges in 2019. The company

Alibaba-backed Hellobike bags new funds as it marches into ride-hailing

2018 has been a rough year for China’s bike-sharing giants: Alibaba-backed Ofo pulled out of dozens of international cities as it fought with a severe cash crunch; Tencent-backed Mobike put the

How a Chinese anti-virus software maker builds a fintech firm to wrestle with giants

360 Finance, an online consumer loan platform that spun off from China’s anti-virus service giant 360 Group, has joined a raft of Chinese fintech companies to go public in the U.S. over the last

Lazada, Alibaba’s Southeast Asia e-commerce business, gets a new CEO

Alibaba has reshuffled the leadership at Lazada, its e-commerce firm in Southeast Asia, after CEO Lucy Peng — an original Alibaba co-founder — stepped down to be replaced by Lazada execut

Payment service Toss becomes Korea’s newest unicorn after raising $80M

South Korea has its fourth unicorn startup after Viva Republica, the company beyond popular payment app Toss, announced it has raised an $80 million round at a valuation of $1.2 billion. This new rou

Skype co-founder snags $105M for fintech lending venture in Southeast Asia

A fintech whale quietly going about its business in Southeast Asia has come out from under the radar after Oriente, a Hong Kong-based business headed by Skype’s first employee, announced that i
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