ADVERTISEMENTREMOVE AD

Paytm Mall Raises Rs 2,900 Cr from SoftBank, Alibaba 

About USD 45 million (about Rs 292.5 crore) has been pumped in by Alibaba.com Singapore E-commerce.

Published
Business
1 min read
story-hero-img
i
Aa
Aa
Small
Aa
Medium
Aa
Large
Hindi Female

Paytm Mall has raised close to Rs 2,900 crore from SoftBank Investment Holdings and Alibaba.com Singapore e-commerce in a deal that values the online shopping venture of Paytm at USD 2 billion.

According to a regulatory filing by Paytm e-commerce, an aggregate amount of USD 400 million (about Rs 2,600 crore) has come from SB Investment Holdings (UK) and its affiliates, including SoftBank Vision Fund.

ADVERTISEMENTREMOVE AD

About USD 45 million (about Rs 292.5 crore) has been pumped in by Alibaba.com Singapore E-commerce, it added.

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

When contacted, Paytm Mall COO 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.
Amit Sinha

(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)

0

Read Latest News and Breaking News at The Quint, browse for more from news and business

Topics:  Flipkart   Singapore   SoftBank 

Speaking truth to power requires allies like you.
Become a Member
3 months
12 months
12 months
Check Member Benefits
Read More
ADVERTISEMENT
×
×