SINGAPORE – Ant International, the Singapore-headquartered digital payments and financial technology company, has completed a Series A fundraising round worth about $1.2 billion.

Existing investors, including its parent company Ant Group and Alibaba Group, participated in the financing alongside several international investment institutions, Ant International said in a statement on Tuesday.

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The fresh capital will be used to accelerate the firm's global expansion and strengthen innovation across its merchant payment, account management and other financial service offerings for enterprises.