Jack Ma-backed Ant ventures into Latin America with new fintech investment

The international arm of Ant Group Co., the online finance company co-founded by Jack Ma, on Thursday announced a strategic investment in R2, a lending infrastructure company in Latin America (LATAM), to expand access to credit for SMEs across the region.
The companies didn’t disclose the size of the deal.
Ant Group and Alibaba (BABA) are connected through their co-founder, Jack Ma, and Alibaba’s 33% stake in Ant Group.