Paytm to Raise Millions for Pushing its O2O Retail Business
One97 Communications, the company that owns Paytm is reportedly eyeing to raise $300-$500 million for the purpose of pushing its online-to-offline (O2O) retail business and get customers to use its platform for making payments.
At present, Paytm is in advanced talks with US-based investors and also its existing shareholder, SoftBank for the latest funding round, which is expected to value the digital payments giant at about $10 billion.
The funds raised through the particular funding round will be directed towards the hyper-local O2O business, with an objective to shore up footfalls for offline stores by offering deals and discounts on Paytm's app.
The users will pay through QR codes in these stores, and thus, increasing the number of transactions for the company. As of now, the m...