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One 97 Communications, the company that operates Paytm, has raised $660 million from Alipay, T Rowe Price, SoftBank and others in exchange for 2.6 million equity shares.
“This is in continuation of the fund-raising ($1.35 billion so far) that Paytm has initiated recently, which currently values the company at nearly $15.5 billion,” said a report on business intelligence platform paper.vc.
“This latest fund-raise will give Paytm, which logged a $590 million loss for FY ‘19, much-needed capital to compete with PhonePe (owned by Walmart) and Google Pay,” Nikhil Kanetkar, an analyst with paper.vc, said.
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