Chinese fintech giant Ant Group's Alipay business group has recently launched its largest executive rotation in nearly seven years. The reshuffle involved multiple departments and resulted in changes to the positions of several vice presidents and senior directors.
According to the official website of Chinese financial technology giant Ant Group, Sam Zeng, the former Chief People Officer, left his post and has been replaced by Wu Minzhi, previously the firm's deputy CPO.
The positions of legal representative and chairman of Ant Group's insurance agency company have recently been changed to Zhang Yu, Vice President of Ant Group. This marks another key executive change to the platform since April 2021.
Fintech platform Airwallex on October 11 announced that it has recently closed E2 Series financing, garnering $100 million. Its total funding amount increased to more than $900 million, with the same $5.5 billion valuation.
XTransfer, a Shanghai-based fintech startup established in 2017 by former Ant Group employees, is seeking to streamline Chinese cross-border e-commerce.
China's digital yuan is set to undergo a closely watched pilot run at this year's Winter Olympics.
Beijing summoned 13 internet companies engaged in finance business on Thursday, including Tencent and ByteDance, ordering them to comply with tougher regulations.
In last week’s VC news: Shenzhen Tengyin raises roughly $15 million in a Series A+ round, EdiGene bags $62 million, while Liaye, founded by former Baidu employees, raises $50 million.
Xiaomi injects funds into bodybuilding course maker I-Fitness, Julive rakes in 400 million yuan, Allianz tightens partnership with WeLab, while Xpeng Motors secures a new commitment from the Guangdong government.
Ant Group executives were summoned on Dec. 26 for talks about anti-monopoly practices with regulators and top financial watchdogs.
JD Digits, Lufax, Baidu and many Chinese fintech giants have removed their interest-bearing online time deposit products after Alipay pulled its internet deposit product on Dec. 18.
Futu Holdings Limited Thursday published its unaudited financial report for the third quarter ended Sept. 30, showing soaring gross profit and surging non-GAAP adjusted net income.
China’s fintech giant Ant Group on Tuesday responded to the recent news about its IPO postponement due to securities regulator’s investigation, saying the listing process is proceeding in an orderly manner.
Lufax, one of China’s biggest wealth management platforms, filed for an initial public offering in the US on Thursday.
Chinese social e-commerce startup Nice Tuan announced its latest $80 million Series C2 round led by CDH Investments.
Last week, Ant Group announced that it sought to be co-listed in The Stock Exchange of Hong Kong and the Nasdaq-like STAR market in Shanghai Stock Exchange.
Global financial markets are struggling, having been crippled by the COVID-19 epidemic and the amount of VC deals has noticeably decreased.
Ant Financial announced the launch of the INCLUSION Fintech Conference, an event that aims to bring together the global financial and technology community.
A lot of you may wonder, why China excels so much in payments given that it is still an emerging country.