The mobile payment platform developer, whose existing investors include Intel and SAP, has already begun talks with investors over the remainder of the round.

One97 Communications, the India-based operator of mobile payment service Paytm, has secured $60m in new funding from venture capital firm SAIF Partners, CEO Vijay Shekhar Sharma has told VCCircle.

The cash was raised as part of a round expected to eventually raise between $150m and $200m. One97 has so far raised $28m from backers including semiconductor chip producer Intel, software producer SAP, SAIF and Silicon Valley Bank.

Sharma, who said the company has begun talks with additional investors, said: “$60m…