 "Paytm achieves Indian Unicorn status with $200 mn investment led by Alibaba")
Paytm’s e-commerce unit has become the latest Indian unicorn (term for an unlisted company valued at over a billion dollars), after raising $200 million in a funding round led by Chinese e-commerce giant Alibaba.
According to a filing with the registrar of companies earlier this week, Alibaba’s Singapore unit will invest $177 mn into Paytm E-Commerce Pvt Ltd, with the remaining $23 mn from SAIF Partners, also a prior early investor. Paytm announced plans to split its e-commerce business from the larger payments unit in the middle of last year. The overall One97 holding company enjoyed a valuation of
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