Alibaba is set to lead a round for the e-commerce arm of One97 Communications that values it at $1bn, separately to the mobile payment branch.
India-based online retail service Paytm E-Commerce is lining up between $180m and $200m in new funding led by e-commerce group Alibaba that will value it at $1bn, DealStreetAsia reported today.
News emerged in August 2016 that e-commerce group One97 Communications planned to spin out Paytm, the mobile payment platform it formed in 2010, with external funding.
Paytm E-Commerce, which oversees the firm’s e-commerce functions, will be renamed PaytmMall and will continue to operate in that space.
The existing Paytm entity…
