Ant Financial Services Group invests $100m in StoneCo

Ant Small and Micro Financial Services Group Co., Ltd.'s, Chinese e-commerce giant Alibaba’s payment affiliate, $100 million private placement investment in StoneCo Ltd. (NASDAQ: STNE), concurrent with the initial public offering of StoneCo. StoneCo is a leading provider of financial technology solutions that empower merchants and integrated partners to conduct electronic commerce seamlessly across in-store, online, and mobile channels in Brazil.