The funding, provided through a MediaTek investment unit at a $4.8bn valuation, is set to form part of a $300m round expected to include Alibaba, Fosun and Foxconn.
Mountain Capital, an investment subsidiary of fabless semiconductor producer MediaTek, has invested $60m in India-based financial services platform Paytm, Paytm founder and CEO Vijay Sharma confirmed to TechCrunch yesterday.
MediaTek provided the funding to Paytm’s parent company One97 Communications at a $4.83bn valuation as part of a larger round expected to reach $300m, two separate sources close to the company said.
One97 was founded as an e-commerce operator but intends to spin out Paytm in the next few months as…
