 "Paytm founder Vijay Shekhar Sharma")
Paytm Mall has raised close to Rs 29 billion from SoftBank Investment Holdings and Alibaba.com Singapore e-commerce in a deal that values the online shopping venture of Paytm at $2 billion.
According to a regulatory filing by Paytm e-commerce, an aggregate amount of $400 million (about Rs 26 billion) has come from SB Investment Holdings (UK) and its affiliates, including SoftBank Vision Fund.
About $45 million (about Rs 2.9 billion) has been pumped in by Alibaba.com Singapore E-commerce, it added.
The deal, which has been executed through a private placement offer, values Paytm Mall at over $2 billion.
When contacted, Paytm Mall COO Amit Sinha said the latest investment led by Softbank and Alibaba reaffirms the strength of the company's business model, growth trajectory and execution capability.
"We are committed to increasing the business growth for the offline merchants, who serve their customers daily. The funds will be deployed for empowering the shopkeepers with superior technology and building logistics, strengthening the Paytm Mall brand and bringing an enriching experience to the customers," he added.
