Alibaba's Ant Financial may set terms for Zomato's $500 mn round

Alibaba's fintech affiliate Ant Financial could reportedly set terms for a $500 million fundraising plan of foodtech major Zomato. Zomato had raised $210 million from Ant Financial last year, under which it reportedly signed an agreement to become an Ant Financial ecosystem entity. Ant Financial may reportedly force Zomato to forge a deeper alliance with its other portfolio entity, Paytm.