Alibaba’s Finance Arm Invests $35M In Data Firm

Alibaba’s finance arm, Ant Financial, has further expanded their fintech empire with a new investment in Chinese finance data provider Shanghai Suntime Information Technology (朝阳永续).

According to a source who spoke to Reuters news agency, the Alibaba affiliate invested $35 million USD for one fifth of the data company. The injection makes Ant Financial the second largest stakeholder in the company, behind company chairman Liao Bing.

Shanghai Suntime provides a range of finance-related services, including a high-level wealth management platform for tracking the performance of hedge funds and other large asset groups. The company is also performs data analysis and earnings forecast services for listed companies.

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