bizztor

Paytm Gets $200 million from Alibaba, SAIF Partners in fresh Funding

Chinese e-commerce major Alibaba Group Holding Ltd, along with investment firm SAIF Partners, are set to invest $200 million in Paytm’s online marketplace unit.

Alibaba Singapore E-Commerce Pvt. Ltd will invest $177 million in Paytm E-Commerce Pvt. Ltd—a unit of Vijay Shekhar Sharma’s One 97 Communications Ltd that operates under Paytm brand. The remaining amount will come from SAIF Partners, an early investor in One97, according to a filing with the Registrar of Companies.

Mint had first reported on 3 February that Alibaba will lead a $200 million investment into Paytm E-commerce.

Post the investment, Alibaba Singapore E-Commerce will have a shareholding of 36.31% in Paytm E-commerce, while SAIF Partners India will own 4.66%.

Paytm declined to comment on the matter.

The $200 million investment is expected to pave the way for the much-awaited entry of Alibaba into India, where the Chinese firm will go head-to-head with Amazon India and Flipkart.

Alibaba also has a stake in Snapdeal, run by Jasper Infotech Pvt. Ltd.

Earlier this week, Paytm launched a separate smartphone app and website—Paytm Mall—for its online marketplace and is aggressively hiring people for expanding the operations.

One97 Communications has three units—Paytm E-Commerce, Paytm Payments Bank (payments bank and mobile wallet service) and Paytm Mobile Solutions.

Get SEO Insights from Experts

We curate top 10 SEO resources every week and share it with our community. Join our Weekly Newsletter to boost your organic traffic.  

COLLABORATION

Let's Discuss
to create the best
digital
solutions.

We’re a team of creatives people who are excited about unique ideas and help SMEs and Startups with their digital growth.

India Office:

Level 12, Building 8C,
Cybercity, Gurugram.
India – 122002

Email: [email protected]
Call: +91 7027030024
Ireland Office:

The Crescent Building,
Block B, Dublin,
D09 C6X8

Email: [email protected]
Call: +353 89 444 6579
Work inquiries

Interested in working with us?

Email:
[email protected]
Copyright ©2020 Bizztor. All Rights Reserved. Bizztor is a trademarks of Bizztor Media Private Limited.
Sidebar Scroll To Top

HEY YOU, SIGN UP AND CONNECT TO WOODMART!

Be the first to learn about our latest trends and get exclusive offers

Will be used in accordance with our Privacy Policy