The move comes as the Ant Group-backed business looks to strengthen its position in global payments infrastructure.
The fundraising would mark one of the largest private capital raises in fintech this year, with existing Ant Group investors expected to provide most of the capital, according to Reuters.
Expanding beyond China’s domestic fintech market
Ant International operates as the international subsidiary of Ant Group, the Chinese fintech giant founded by Jack Ma. The company was formally spun out as an independently operated business in 2024 and focuses on digital payments and cross-border financial services outside mainland China.
The business has been steadily expanding its global footprint as competition intensifies in the payments infrastructure space, where established players such as Adyen, Stripe and the major card networks continue to dominate enterprise merchant services.
While Ant International declined to comment on the fundraising, Reuters reported that no formal timeline has been set for a potential listing.
Chinese media have previously suggested that a Hong Kong IPO could take place as early as this year, although those plans remain fluid.
IPO speculation continues to swirl
The latest fundraising adds to ongoing speculation around Ant International’s long-term capital markets strategy.
Chinese media have reported that Ant Group explored a potential Hong Kong listing for its international arm in 2025 and held discussions with regulators. The company was originally set for a record $37 billion dual listing in 2020 before Chinese regulators halted the IPO just days before its planned debut in Shanghai and Hong Kong.
Payments infrastructure heats up
The planned raise highlights continued investor appetite for large-scale payments infrastructure businesses, even as broader fintech funding conditions remain more selective.
At a $10 billion valuation, Ant International sits within a competitive cohort of global payments and cross-border infrastructure providers increasingly focused on scale, compliance capabilities and merchant ecosystem integration.
If completed, the funding round would provide additional capital for international expansion and product development at a time when cross-border digital payments continue to grow in strategic importance.
