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Paytm raises $1.4 billion from SoftBank

Reuters  |  MUMBAI 

(Reuters) - said on Thursday it has raised $1.4 billion from Japan's in a deal that will help the payments startup expand its user base and maintain its lead in Asia's third-largest economy.

will also get a board seat in after the investment, which was made into parent One97 Communications, according to a statement from the Indian payments provider.

China's Alibaba, which counts as its biggest investor, already holds a stake in

(Reporting by Sankalp Phartiyal; Editing by Rafael Nam)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)