SoftBank pumps Rs 9,000 cr in Paytm to help launch payments bank operation

Japanese conglomerate SoftBank has pumped in $1.4 billion (over Rs 9,079 crore) in Indian digital payments platform, Paytm, marking the largest fund infusion by a single investor in an Indian start-up.

This is Softbank's largest investment in a single company in India. While both the companies have declined to comment on the valuation, market watchers say that the deal values Paytm at about $8 billion.

The funding will help Paytm expand fast its soon-to-be launched payments bank operations as well as grow its user base and introduce more financial products for consumers.

SoftBank joins Alibaba and its payments affiliate Ant Financial as amongst