Ant Group Invests in Mint Health, Becomes Largest Shareholder With Over 28% Stake

Ant Group has invested in Mint Health, acquiring a stake of over 28% and becoming its largest external shareholder, according to 36Kr. Founded in 2008, Mint Health operates a weight-management platform with more than 200 million users and a database of 1.6 million food items. The company completed a Series D round in 2021 at a valuation of 20 billion yuan. The investment amount is several hundred million yuan, a person close to the deal said. Mint Health generates revenue from e-commerce sales of food and supplements, membership fees, and partnerships with GLP-1 drug makers and CROs. Ant Group's health app 'Afu' is also focusing on weight management to boost user engagement, integrating Mint Health's food database for calorie tracking. The deal was reached within months of talks, Ant Group said.