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Japan's SoftBank invests $1.4 billion in Paytm

Reuters  |  MUMBAI 

By Sankalp PhartiyalMUMBAI (Reuters) - Japan's SoftBank Group has invested $1.4 billion in the parent of Paytm, giving the digital payments start-up a boost as it looks to expand its user base and maintain its market lead in Asia's third-largest economy.A source familiar with the matter said SoftBank had bought $1 billion of new shares in Paytm parent One97 Communications, equivalent to a 14.2 percent stake, and a further $400 million of existing shares. SoftBank and Paytm declined to give details. Solar-to-telecoms conglomerate SoftBank will also get a board seat in Paytm, the Indian firm ...

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First Published: Thu, May 18 2017. 19:19 IST