SoftBank and Alibaba Invests $445 Million in Paytm Ecommerce
You are here

SoftBank and Alibaba Invests $445 Million in Paytm Ecommerce

Share:

Japanese financial institution, SoftBank, will be investing around $400 million in one of India’s largest startups, Paytm E-Commerce Pvt. Ltd. This funding will increase the valuation of the e-commerce company to $1.9 billion, according to a regulatory filing.

Alibaba, the largest e-commerce company in China, is already an investor in Paytm. However, it will be investing an additional $45 million in this round of funding.

SoftBank is one of the key investors in India’s e-commerce sector which is on a tremendous surge. The Japanese bank already has a stake in the parent company of Paytm and has confirmed its investment in Paytm Mall, which is the brand name of Paytm E-Commerce Pvt. Ltd, operating an online retail space.

Speaking on this occasion, SoftBank said, “We believe Paytm Mall’s offline-to-online operating model, combined with the strength of the Paytm ecosystem, is uniquely positioned to enable India’s 15 million offline retail shops to participate in India’s e-commerce boom.”

Commenting on this recent influx of funds, Amit Sinha, Chief Operating Officer of Paytm Mall, said that the company would utilize these funds to enhance its technology and also develop high-quality logistics. According to India’s Registrar of Companies, SoftBank units will get a stake worth 21.1 percent in Paytm E-Commerce after the investment.

However, the single largest investor in Paytm will still be Alibaba’s Singapore entity Alibaba.com, Singapore E-Commerce Pvt. Ltd., holding around 36.3 percent of stake in the Indian retail outlet.

SoftBank is a leading investor in another Indian online retail company, Snapdeal.


Share:
Anirudh Menon
Anirudh Menon
I have adorned multiple hats during my professional journey. My experience of 14 years comes in areas like Sales, Customer Service and Marketing. My journey as a professional writer started 5 years back, when I started writing for an in-house magazine for my employer. Having successfully delivered many in-house projects, it encouraged me to take my skill to the world. As on day, I have written articles, blogs website content for various industries like Information Technology, Start-up, Retail and Government. The subjects that I have covered range from Digital Marketing, SAP Cloud Platform, Cloud Computing, Content Marketing , Politics. Enhancement is a process and I constantly thrive to add more subjects in my portfolio. Over and above content writing, I also train language and communication to students who want to brush up their speaking skills. I am a part time trainer for IELTS coaching and also work as a budding voice over artist.

    Similar Articles

    Leave a Reply

    Additional Resources to Download

    Top
    Want to stay up-to-date with news and information from TechFunnel.com?

    Subscribe Now