Paytm raises USD 1.4 billion from Softbank Group Corp

India Infoline News Service | Mumbai | May 19, 2017 18:16 IST

Paytm has raised USD 1.4 billion from Softbank Group Corp in the largest funding round by a single investor in India.

Paytm has raised USD 1.4  billion from Softbank Group Corp in the largest funding round by a single investor in India.
 
The deal involves $400 million worth of shares that Softbank will buy from Paytm's early investor SAIF Partners in a secondary transaction, and a minor stake from founder Vijay Shekhar Sharma, an official close to the development informed.
 
The deal values the company at about $7 billion post-money (including the investment) and will take SoftBank’s stake to about 20%.
 
Paytm is eyeing to invest about $1.6 billion over the coming 3-5 years towards enabling half-a-billion Indians to join the mainstream economy, the company informed on Thursday.
 
The company also informed that it will soon launch Paytm Payments Bank, a mobile-first product that will extend its reach to every corner of the nation 

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