Paytm the digital payment platform operates and owned by the One97 Communications, has now secured a fresh funding round of capital from some of the new and existing investors which include the T Rowe Price, a US-based asset management.
Some of the existing investors in the round include the SoftBank Vision Fund, Alibaba Group, and Discovery capital.
Some of the media reports that the size of the transaction would be around $1 billion.
Paytm will now be going to use the latest funds to grow its payment and financial services business.
“At Paytm, we are committed to bringing half a billion Indians to the mainstream economy by onboarding them in the formal financial ecosystem. This new investment by our current and new investors is a reaffirmation of our commitment to serving Indians with new-age financial services,” Sharma said in the statement.