Jack Ma’s Ant Financial is reportedly planning to invest $1 billion in startups in India and some Southeast Asian countries to help strengthen its grasp in markets where mobile internet is growing rapidly.
According to a report in Bloomberg, the company is looking to invest in those regions where online finance and payment platforms are thriving.
Jack Ma’s Ant Financial and has also invested in Indian startups like Paytm and Zomato.
At a press conference hosted in Beijing Ant Financial’s Vice President Ji Gang said that the company is looking to raise the fund, but didn’t mention the exact amount nor the potential regions it will be targeting.
Ant Financial has also said that it’s looking to seek a virtual banking licence in Singapore.