SoftBank is putting $400m into Paytm Mall, while Alibaba is providing the remaining $45m, with the total amount falling short of the $500m to $600m the company was reportedly seeking.
India-based online retailer Paytm Mall has raised $445m in a funding round led by telecoms and internet group SoftBank with a $400m commitment, Reuters reported yesterday citing a regulatory filing.
E-commerce group Alibaba supplied an additional $45m for the round, which valued Paytm Mall at approximately $1.9bn. The capital will be supplied across four tranches and will give SoftBank a 21.1% stake, with Alibaba’s stake dropping from 36.3% to just over 30%.
The total figure of $445m falls short of…
