This is SoftBank-backed Paytm's second fundraise after a $1-billion injection last month.
Paytm raised $1 billion from SoftBank Vision Fund and Ant Financial last month
Indian digital payments startup Paytm's parent has raised nearly $660 million (roughly Rs. 4,700 crores) from investors including Alibaba's Alipay, SoftBank's SVF Panther (Cayman) and funds managed by T Rowe Price among others, according to a filing.
The board of One 97 Communications will allot about 2.6 million shares to the investors, financial data accessed by business intelligence platform Tofler dated December 12 showed.
This is SoftBank-backed Paytm's second fundraise after the Japanese tech investment giant and other backers such as Ant Financial and T Rowe Price Associates pumped in $1 billion (roughly Rs. 7,100 crores) last month, valuing the company at $16 billion (roughly Rs. 1,13,000 crores).
Paytm did not immediately respond to a request for a comment on the latest funding.
© Thomson Reuters 2019
Disclosure: Paytm's parent company One97 is an investor in Gadgets 360.
Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.