The funding round, which Bloomberg reported could reach at least $1.5 billion, comes just months after Ant Financial’s first major private placement completed in July. Ant Financial is among a series of financial technology companies tapping investors for pre-IPO financing to fund expansion as Chinese consumers move more of their banking, payments and investing online. Online lending platform Lufax, backed by China’s second largest insurer Ping An Insurance Group Co of China Ltd, has also sought funds from investors ahead of a planned IPO in Hong Kong worth up to $5 billion in 2016.