Paytm Raises $660 M From Alipay, SoftBank, Others
Money & Banking
One 97 Communications, the company that operates Paytm, has raised $660 million from Alipay, T Rowe Price, SoftBank and others in exchange for 2.6 million equity shares.
“This is in continuation of the fund-raising ($1.35 billion so far) that Paytm has initiated recently, which currently values the company at nearly $15.5 billion,” said a report on business intelligence platform paper.vc.
“This latest fund-raise will give Paytm, which logged a $590 million loss for FY ‘19, much-needed capital to compete with PhonePe (owned by Walmart) and Google Pay,” Nikhil Kanetkar, an analyst with paper.vc, said.
Published on
December 08, 2019
One 97 Communications, the company that operates Paytm, has raised $660 million from Alipay, T Rowe Price, SoftBank and others in exchange for 2.6 million equity shares.
“This is in continuation of the fund-raising ($1.35 billion so far) that Paytm has initiated recently, which currently values the company at nearly $15.5 billion,” said a report on business intelligence platform paper.vc.
“This latest fund-raise will give Paytm, which logged a $590 million loss for FY ‘19, much-needed capital to compete with PhonePe (owned by Walmart) and Google Pay,” Nikhil Kanetkar, an analyst with paper.vc, said.
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