Paytm Raises $300 Mn At $4.8 Billion Valuation
Again Paytm Makes in the News!
Renowned Indian online payment and e-commerce startup Paytm raises $300 million from a group of investors led by Taiwanese semiconductor maker MediaTek. With this investment, the valuation of the Noida-based Paytm will become more than double, which comes to over $4.8 billion. Paytm’s existing investors include Alibaba, its payments affiliate Alipay and SAIF Partners also participated in the funding round.
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Paytm, which is based in Noida outside New Delhi, was founded by entrepreneur Vijay Shekhar Sharma and was first known as an e-commerce platform that competed with Flipkart Online Services Ltd. and Snapdeal, which are backed by global investors including Accel Partners, SoftBank and Russian billionaire Yuri Milner’s GST Global.
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