Wednesday, 19 April 2017

Paytm in talks with SoftBank to raise $1.2-$1.5 billion

Electronics payments provider Paytm is in talks with Japan's SoftBank Group to raise $1.2-$1.5 billion in cash, making the latter one of the largest shareholders in the finch start-up, Mint newspaper reported on Wednesday citing sources. The deal, which could increase Paytm's valuation to $7 billion to $9 billion, will see SoftBank buying some shares from existing Paytm investor SAIF Partners and founder Vijay Shekhar Sharma besides investing money in the company.

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