Alibaba’s internet financial affiliate Ant Financial has sealed a private investment deal from China Post Capital, the state-owned investment institution of postal service China Post Group Corp., making them the second largest strategic shareholder in Ant Financial. The two parties already began a strategic partnership last June.

The investment comes after an undisclosed amount of A round led by China’s National Social Security Fund (NSSF), a deal which valued the Alibaba spin-off at $45-$50 billion USD. The social security fund holds a 5% stake in Ant Financial.

Ant Financial operates a series of financial businesses ranging from the country’s most popular payment service Alipay, mutual fund service Yu’e Bao to online credit scoring service Sesame Credit. It has also received the license to run an internet bank, Mybank, which can issue limited loans.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.