SoftBank, Alibaba Back Paytm Mall With Rs 2,900 Cr Investment

Paytm Mall, the e-commerce arm of Paytm has secured close to Rs 2,900 crore from SoftBank Investment Holdings and Alibaba.com Singapore e-commerce in a deal that valued at US $2 billion.

According to a regulatory filing by Paytm e-commerce, an aggregate amount of US $400 million (about Rs 2,600 crore) has come from SB Investment Holdings (UK) and its affiliates, including SoftBank Vision Fund. About US $45 million (about Rs 292.5 crore) has been pumped in by Alibaba.com Singapore E-commerce, it added.

According to the sources, the deal, which has been executed through a private placement offer, values Paytm Mall at over US $2 billion.

Amit Sinha, COO, Paytm Mall said, “The latest investment led by Softbank and Alibaba reaffirms the strength of the company’s business model, growth trajectory and execution capability.”