Paytm raises $1 billion in funding at $16 billion Valuation
NEW DELHI, 25th Nov 2019- India's leading digital payment firm Paytm has raised fresh $1 billion funds from a group of investors, including existing backers such as SoftBank’s Vision Fund and Alibaba’s Ant Financial.
T. Rowe Price Associates, Inc. and Discovery Capital are the new investors participated in this round.
However, Paytm did not officially disclose the details but as per Pixr8 sources Paytm raises $1 billion in the latest round.
The company will expand into insurance, lending and investments and invest $1.39 billion over the next three years to include more users in the country, Paytm said.
After this funding round Founder & CEO of Paytm, Vijay Shekhar Sharma has said,
“At Paytm, we are committed to bringing half a billion Indians to the mainstream economy b...
