Paytm in talks with SoftBank to raise $1.2 to $1.5 billion: Report
Electronics payments provider, Paytm is in chats with Japan’s SoftBank Group to raise $1.2 to $1.5 billion in real money, making the last one of the biggest shareholders in the fintech start-up, Mint daily paper gave an account of Wednesday refering to sources.
The arrangement, which could expand Paytm’s valuation to $7 to $9 billion, will see SoftBank getting a few shares from existing Paytm speculator SAIF Partners and organizer Vijay Shekhar Sharma adjacent to putting cash in the organization, the report said.
Neighborhood media had announced as of late that SoftBank is quick to offer its stake in India’s web based business firm Snapdeal in return for a stake in market pioneer Flipkart.
Paytm may likewise purchase Snapdeal-claimed installments equal Freecharge, as a component of the arrangement, the report said.
Advanced installments have accepted extraordinary essentialness in India after the choice of Prime Minister Narendra Modi’s administration restriction on old high-esteemed certified receipts in November prompted an extreme money mash the nation over.
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