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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

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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