Ant Financial in talks with WorldFirst
Ant Financial, the payment company part-owned by Chinese e-commerce giant Alibaba, is in talks to take over British start-up WorldFirst. WorldFirst provides foreign exchange and currency-hedging services to businesses, banks and individuals globally. Founded in 2004, it has offices in Asia, Africa, Europe and the US and employs around 600 people. The deal would strengthen Ant Financial’s global presence as it continues to roll out Alipay online payment services, which currently has over 700 million active users in China. Ant Financial was recently valued at $150bn.