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Anext Bank receives US$148 million capital injection from Ant Group

March 25, 2024

Photo Source: Issuu

Anext Bank has received US$148 million in added capital from its parent company Ant Group, following a US$188 million investment last year.

  • Company Overview: Founded in 2022, Anext Bank bank focuses on local and regional MSMEs, especially those dealing with cross-border transactions.

  • Parent Company: Ant Group set up Anext Bank after winning a digital wholesale bank license from the Monetary Authority of Singapore. Ant Group now holds 100% shareholding and has invested over US$503 million in Anext Bank.

  • Client Base: In June 2023, 65% of Anext Bank's clients were considered micro businesses. 33% of its total client base were businesses incorporated just two years before opening an account with Anext Bank.