One97, also backed by Intel, has now raised almost $1bn, and Alibaba and financial services affiliate Ant Financial hold a combined 40% share.
E-commerce group Alibaba and its affiliate Ant Financial have invested about $680m in India-based online payment technology provider One97 Communications and will jointly hold a 40% stake, the Economic Times reported today.
One97 is the owner of Paytm, the online payment services provider that began life in 2008 as a mobile phone payment top-up service before expanding to a mobile wallet service as it grew.
Ant Financial, which oversees much of China-based Alibaba’s financial services offerings, paid a reported…
