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Paytm Raises $660 Million in Latest Round of Funding, Filing Shows

Paytm Raises $660 Million in Latest Round of Funding, Filing Shows

This is SoftBank-backed Paytm's second fundraise after a $1-billion injection last month.

By Reuters | Updated: 13 December 2019 11:58 IST

Paytm Raises $660 Million in Latest Round of Funding, Filing Shows

Paytm raised $1 billion from SoftBank Vision Fund and Ant Financial last month

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Highlights

Paytm raised funds from Alipay, SoftBank's SVF Panther (Cayman)
One 97 will allot about 2.6 million shares to the investors
This is Paytm's second fundraise after it raised $1 billion 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.

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