Ant International raises $1.2B at $10B valuation for IPO push

Key Takeaways

• Ant International raised $1.2 billion in Series A funding at a reported $10 billion valuation
• Proceeds will fund cross-border payments, AI-powered merchant tools, and SMB financial services
• The round may set the stage for a Hong Kong IPO, reviving Ant Group's shelved 2020 listing plans

Ant International closed $1.2 billion in Series A funding on July 20, 2026, marking one of the largest fintech raises this year in the cross-border payments space. The company, spun off from China's Ant Group in 2024, plans to use the capital to expand merchant payment infrastructure, AI-driven commerce tools, and credit products for SMBs worldwide.

Bloomberg News reported the round valued Ant International at a minimum of $10 billion. Sources familiar with the deal said the funding could position the company for a Hong Kong IPO as early as this year.

Why this funding matters for cross-border payments

Ant International operates four business lines: Alipay+ for mobile payment interoperability, Antom for merchant solutions, WorldFirst for international accounts and FX, and Bettr for digital banking in Singapore. Together, Alipay+ alone serves over 88 million merchants globally across 25+ countries.

The company's focus on SMB financial services aligns with shifting market behavior. PYMNTS Intelligence research shows 36% of internationally active SMBs now expect to use fintechs or payment providers for cross-border transactions, up from 30% in 2025. That same research found 91% of SMBs using fintech payment providers rated their experience as good, one of the highest satisfaction scores in the study.

Banks still dominate the space. 69% of SMBs said they expect to use traditional banks for cross-border payments, compared to 64% in 2025. But the trend suggests SMBs are building hybrid payment stacks, combining bank reach with fintech flexibility.

The IPO question: reviving a shelved $37B listing

This funding round carries strategic weight beyond product expansion. In 2020, Ant Group's parent company was preparing what would have been the world's largest IPO at $37 billion. Chinese regulators halted the listing days before trading was set to begin, triggering a multi-year restructuring.

That restructuring led to Ant International's formation as a legally distinct entity with an independent board in 2024. The company now operates separately from Ant Group's mainland China business, focusing exclusively on international markets. A Hong Kong IPO would represent a partial resurrection of Ant Group's public market ambitions, albeit through a different vehicle and at a smaller scale.

Competitive landscape: who Ant International is up against

The cross-border payments market is crowded. Stripe and Adyen dominate merchant payments in Western markets. PayPal and Wise target consumer and SMB transfers. Revolut, which recently secured an Australian banking license, continues expanding its multi-currency infrastructure globally.

Ant International's edge lies in Asia-Pacific distribution and its wallet interoperability network. Alipay+ connects multiple regional e-wallets, including GCash (Philippines), Touch 'n Go (Malaysia), and TrueMoney (Thailand), allowing merchants to accept payments from consumers across borders without integrating each wallet separately.

The company's AI-powered merchant tools target a specific gap. Many SMBs struggle with treasury management, FX hedging, and working capital when selling across borders. Ant International's Antom and WorldFirst units bundle these services, competing with standalone FX platforms and traditional trade finance providers.

What this signals for fintech fundraising

A $1.2 billion Series A at a $10 billion valuation is notable in a market where fintech valuations have compressed since 2022. The round suggests investors still see growth runway in cross-border B2B payments, particularly in emerging markets where traditional banking infrastructure remains fragmented.

The global cross-border payments market is projected to exceed $150 trillion by 2027. Ant International is betting that AI-driven automation in merchant onboarding, fraud detection, and treasury can capture a meaningful share of that volume.

Frequently Asked Questions

What does Ant International do?

Ant International provides cross-border payment infrastructure through four units: Alipay+ (wallet interoperability), Antom (merchant payments), WorldFirst (business accounts and FX), and Bettr (digital banking in Singapore). It serves merchants and SMBs outside mainland China.

Why was Ant Group's IPO cancelled in 2020?

Chinese regulators halted the $37 billion IPO days before trading, citing concerns about systemic financial risk and Ant Group's consumer lending practices. The company underwent a multi-year restructuring that included forming Ant International as a separate entity.

How does Ant International compete with Stripe and PayPal?

Ant International focuses on Asia-Pacific markets and wallet interoperability. Its Alipay+ network connects regional mobile wallets, allowing merchants to accept payments from multiple e-wallets through a single integration. Stripe and PayPal have stronger positions in North America and Europe.

Will Ant International go public in 2026?

Bloomberg reported that the $1.2 billion funding could prepare the company for a Hong Kong IPO this year, though no official timeline has been announced. Sources cited by Bloomberg said the listing remains a possibility.

Source: PYMNTS | / PYMNTS