Paytm raises $1bn from existing investor.
Money in the Game: Payments platform Paytm has raised $1bn from new and existing investors, including Japan’s SoftBank Group, China’s Ant Financial and Discovery Capital valuing the company at c. $16bn.
As part of the investment round, SoftBank has pumped in $200mn while Ant Financial has invested $400mn. These were joined by new investors, including T. Rowe Price Associates. This takes the total investment raised by Paytm to about $3.5bn.
The fresh investments will be used for growing the payments and financial services business, noted Founder Vijay Shekhar Sharma. ET Tech
Paytm plans to invest INR10,000cr over the next 3 years to bring financial inclusion to more under-served users in the country.
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