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SoftBank, Alibaba invest Rs 29 bn in Paytm Mall; latest valuation $1.6-2 bn

he deal, which has been executed through a private placement offer, values Paytm Mall at over $2 billion

Press Trust of India  |  New Delhi 

Paytm founder Vijay Shekhar Sharma
Paytm founder Vijay Shekhar Sharma

has raised close to Rs 29 billion from Investment Holdings and com Singapore e-commerce in a deal that values the online shopping venture of Paytm at $2 billion.

According to a regulatory filing by Paytm e-commerce, an aggregate amount of $400 million (about Rs 26 billion) has come from SB Investment Holdings (UK) and its affiliates, including Vision Fund.

About $45 million (about Rs 2.9 billion) has been pumped in by com Singapore E-commerce, it added.

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

When contacted, COO Amit Sinha said the latest investment led by and 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," he added.

First Published: Mon, April 02 2018. 22:29 IST
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