Paytm Mall Raises Rs 2,900 Crore From SoftBank, Alibaba

Gold Silver Reports (GSR) – Paytm Mall Raises Rs 2,900 Crore From SoftBank, Alibaba — Paytm Mall has raised close to Rs 2,900 crore from SoftBank Investment Holdings and Singapore e-commerce in a deal that values the online shopping venture of Paytm at $2 billion.

About $400 million (about Rs 2,600 crore) has come from SB Investment Holdings (U.K.) and its affiliates, including SoftBank Vision Fund, according to a regulatory filing by Paytm e-commerce. About $ 45 million (about Rs 292.5 crore) has been pumped in by Singapore E-commerce, it added.

The deal, which has been executed through a private placement offer, values Paytm Mall at over $2 billion.

When contacted, Paytm Mall’s Chief Operating Officer Amit Sinha said the latest investment led by SoftBank and Alibaba reaffirms the strength of the company’s business model, growth trajectory and execution capability.

“We are committed to increasing the business growth for the offline merchants, who serve their customers daily. The funds will be deployed for empowering the shopkeepers with superior technology and building logistics, strengthening the Paytm Mall brand and bringing an enriching experience to the customers,” he added.

Spread the love

Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

Leave a Comment