Noida-based digital payment firm Paytm is close to scoring USD 2 billion of new financing from the investors, like Jack Ma’s Ant Financial and SoftBank Group Corp of Japan, as per the sources.
As per the reports in an English Daily, “ Paytm is in talks with US asset manager T Rowe Price to lead the round with up to USD 150 Mn- USD 200 Mn funding. Existing investors SoftBank and Alibaba are also expected to participate in the round with the rest of the capital.”
At present, SoftBank holds a 19 percent stake in the company, and Alibaba owns a 38 percent stake in Paytm’s parent company One97 Communications.
This round of the funding may value Paytm at USD 15 Bn. However, in August, Paytm Founder Vijay Shekhar Sharma had said that an ESOP round had valued Paytm at USD 15Bn.
Paytm had its last funding in 2018 with USD 300 Mn from Berkshire Hathaway at a valuation of USD 10 Bn.
Paytm was founded in 2010, and is the first digital payment platform in the country.
