Ant Financial Services Group, the financial affiliate of e-commerce titan Alibaba, announced today the completion of a US$4.5 billion series B financing. The funding size is astounding, as the company claims it to be the largest-ever individual private tech investment globally.

Unsurprisingly, the investor list is long and consists of big names, including consortiums led by China Investment Corp Capital and CCB Trust, a subsidiary of China Construction Bank, along with existing Series A shareholders including China Life, China Post Group, the parent company of the Postal Savings Bank of China, China Development Bank Capital and Primavera Capital Group.

The company secured an undisclosed amount of Series A financing in July last year at a value reportedly over $45 billion USD. Following the latest round the valuation is expected to surpass US$60 billion.

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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.