Ant Financial, a China-based affiliate of e-commerce company Alibaba Group, has closed a US$4.5 billion Series B funding round at a reported enterprise valuation of close to US$60 billion. Investors in the round included China Investment Corporation’s affiliate CIC Capital and China Construction Bank’s subsidiary CCB Trust, as well as existing investors: insurance company China Life Insurance, Postal Savings Bank of China’s parent company China Post Group, investment company China Development Bank Capital and China-based investment firm Primavera Capital Group. Ant Financial offers online financial services and plans to use the new capital to invest in infrastructure including cloud computing and risk control.