Paytm raises another $669.5 million from existing investors
Posted On : Friday, December 13, 2019, 5:46 PM
Just a couple of weeks after raising a whopping $1 billion, One97 Communications, the parent of digital payments giant Paytm, has raised $669.5 million (roughly Rs. 4,724 crore) in another round of funding. The latest investment was reportedly led by the company's existing investor Alipay, along with participation from SoftBank and T Rowe Price. Out of the total $669.5 million raised, Alibaba Group-owned Alipay has pumped around $202.6 million (nearly Rs. 1,433 crore), while SoftBank and T Rowe Price have infused $202.2 million (nearly Rs. 1,430 crore) and $155.5 million (nearly Rs. 1,100 crore), respectively. The rest of the amount invested in Paytm came from Saudi Arabia-based Samba Financial Group, Seoul-based Hana Investment Company, and other investors.