Japan’s SoftBank Invests Rs 9,000 Crore in Paytm

Japan’s SoftBank has pumped in USD 1.4 billion (over Rs 9,079 crore) in digital payments platform Paytm.This is the largest fund infusion by a single investor in an Indian start-up and also Softbank’s largest investment in a single company in India.While both the companies have declined to comment on the valuation, market watchers say that the deal values Paytm at about USD 8 billion.The funding will help Paytm expand fast its soon-to-be launched payments bank operations as well as grow its user base and introduce more financial products for consumers.

In line with the Indian government’s vision to promote digital inclusion, we are committed to transforming the lives of hundreds of millions of Indian consumers and merchants by providing them digital access to a broad array of financial services, including mobile payments,The company plans to invest Rs 10,000 crore over the next three to five years to enable half a billion Indians to join the mainstream economy,Paytm offers mobile wallet (over 220 million users) and e-commerce services and will launch its payments bank operations from May 23. It had raised USD 60 million from Taiwanese chip maker MediaTek last year.

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