Noida-headquartered digital payments company Paytm is looking to amp up its arsenal with fresh funds in the increasingly competitive digital payments space. The company is looking to raise a fresh funding round of $1 billion.
An ET report said that Paytm is in talks with US asset manager T Rowe Price to lead the round with up to $150 million-$200 million funding. Existing investors SoftBank and Alibaba are also expected to participate in the round with the rest of the capital. Currently, SoftBank owns a 19% stake in the company while Alibaba controls 38% stake of Paytm’s parent company One97 Communications.
The round may value the company at $15 Bn. However, it is to be noted that Vijay Shekhar Sharma, founder, Paytm said that in August, an ESOP round valued Paytm at $15 billion.
The company’s last funding was last year with $300 Mn from Berkshire Hathaway at a valuation of $10 billIon. Founded in 2010, Paytm is one of the first digital payment platforms in India. The company enables payments bank, credit cards, UPI for payments and transactions, ecommerce with Paytm Mall, event ticketing services, wealth management, insurance and gold services.