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Paytm Mall plans to raise Rs 4,000 cr to expand reach in Indian e-commerce

The company is ramping up logistics and also bringing in global sellers

BS Web Team  |  New Delhi 

Paytm mall

After the successful implementation of its sales, Mall is reported to be in talks with investors from Asia and the United States for raising Rs 3,000-4,000 crore of funds by the end of 2017.

Mall, which launched its first ever sale — Mera Cashback Sale — from September 20 to 23, said it witnessed 12 times growth in smartphone sales, eight times in laptops and cameras, 10 times in home appliances, 10 times in apparel, footwear, and fashion accessories, and seven times in fast moving consumer goods.

The company had earmarked over Rs 700 crore to be spent on cash backs and offers during the  

China’s Alibaba, which owns a majority stake in Paytm, has been aggressively striving to secure the third place in the Indian e-commerce sector, which is dominated by and

Earlier, in the interview with Business Standard, Mall Chief Operating Officer Amit Sinha said by that by next year, the company will be the top player the online retail sector. To achieve this, Sinha says the company is ramping up logistics and also bringing in global sellers. 

Bolstering its online grocery play, Mall, as reported earlier, was in talks to invest $200 million in BigBasket and the deal is in final stage now. Prior to this, raised $200 million from Group and venture fund SAIF Partners. 

After Narendra Modi's demonetisation drive, played an important role in democratising access to digital payments for hundreds of millions of Indians. This has led to over 10 million customers signing up for a Payments Bank account in the beta launch.

First Published: Wed, September 27 2017. 11:49 IST