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Paytm raises $1.4 billion from SoftBank

Reuters  |  MUMBAI 

MUMBAI (Reuters) - Paytm said on Thursday it has raised $1.4 billion from Japan's SoftBank Group in a deal that will help the digital payments startup expand its user base and maintain its lead in Asia's third-largest economy.SoftBank will also get a board seat in Paytm after the investment, which was made into Paytm parent One97 Communications, according to a statement from the Indian digital payments provider.China's Alibaba, which counts SoftBank as its biggest investor, already holds a stake in Paytm. (Reporting by Sankalp Phartiyal; Editing by Rafael Nam)(Only the headline and picture of ...

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First Published: Thu, May 18 2017. 17:04 IST