How Ant Group Became the Biggest Fintech Company in the World

Alibaba built the “Amazon of the East.” Now, its fintech spinoff is set to be the biggest IPO of the year.

Ant Financial logo on a building.
A logo hangs on a building of Ant Group, a leading provider of financial services technology in China, on July 23, 2020 in Hangzhou, Zhejiang Province of China. Photo: Wu Jun/VCG/Getty Images

What is Ant Group?

By the end of 2006, more than 300,000 merchants were accepting Alipay as an independent payment method including gaming companies, travel websites, and online stores.

From Alipay to Ant Financial

Alipay built its financial services strategy around two resources: access to data and access to customer funds.

Leveraging customer data

From Ant Financial to Ant Technology

Former hedge fund manager, writing on financial sector themes: https://netinterest.substack.com