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Alipay Singapore infuses fresh funds in India's Zomato

Oct 15, 2018 by The Passage Team
Alipay Singapore infuses fresh funds in India's Zomato

Alipay Singapore Holdings Pte Ltd, a subsidiary of Ant Financial, has injected a USD 210 million investment into Indian food delivery company Zomato.

After the recent investment and a February financing around USD 200 million, Ant Financial is expected to become the largest shareholder of Zomato. Its parent company Info Edge’s stake in Zomato will decrease by nearly 3% to 27.68% after the Ant Financial investment.

Zomato is valued at around USD 2 billion in the latest deal, and Ant financial’s stakes in Zomato will increase to over 10% after the capital infusion.

Source: Chinamoneynetwork

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