Ant Group's acquisition valued Singapore payments firm 2C2P at over $590m

2C2P founder and CEO Aung Kyaw Moe

Chinese financial services major Ant Group’s purchase of a majority stake in the Southeast Asian payments company 2C2P in April this year valued the latter at over $590 million, show DealStreetAsia’s calculations based on regulatory filings.

Ant Group had announced its purchase of a majority stake in 2C2P, which enables enterprises to make and accept payments across borders, in April without disclosing the deal terms. The acquisition was completed on June 24, according to the Singapore-headquartered firm’s 2021 annual report.

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