Ant Group’s online lending arm gets nod to boost registered capital by $1.2b

Ant Group’s online lending arm gets nod to boost registered capital by $1.2b

Ant Group's Hangzhou Headquarters. Source: Ant Group

Ant Group Co. Ltd.’s online lending subsidiary has been given the go-ahead from regulators to boost its registered capital by 10.5 billion yuan ($1.2 billion), marking a key step forward in the fintech giant’s government-driven, year-long revamp.