Key Investors Alibaba, Ant Group Exit Paytm Mall

Paytm Mall

Paytm Mall said that two of its key early investors Alibaba and Ant Financial have exited the company.

The company is yet to divulge details about the exit.

According to reports, Alibaba would be exiting the company with over $3.5 million while Ant Group would be exiting with over $1.8 million.

Also Read | Paytm to File for New License for General Insurance

The company has announced that it will be joining the government-backed e-commerce platform, the Open Network for Digital Commerce or ONDC. It will lead to its departure from traditional physical goods e-commerce

The company will explore opportunities in the export business.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.