24 June 2017
visit www.finastra.com

Alibaba leads $200 million investment in Paytm e-commerce unit

03 March 2017  |  9932 views  |  0 India, Bazaar

The e-commerce arm of Indian mobile wallet giant Paytm has raised $200 million in a funding round led by China's Alibaba.

The new investment, reported in a regulatory filing earlier this week, will see Alibaba invest $177 million into Paytm E-Commerce, with the remaining $23 million pledged by Saif Partners.

Paytm announced plans to split its e-commerce business from the payments unit in the middle of last year, with a view to taking on local e-commerce malls Flipkart and Snapdeal and global giant Amazon. Sources says the firm plans to sell close to a billion products from merchants across South East Asia on its platform, dwarfing the sales lines on rival sites.

The diversification strategy is being nudged along by Alibaba, and its financial services unit Ant Financial, which has spent over a billion dollars to acquire a 40% stake in the Indian firm.

Last August, Paytm parent company One97 Communications raised $60 million from Taiwanese chip manufacturer MediaTek, part way to a $300 million target to fund the firm's move into the banking sector.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Ant Financial takes equity stake in Phillippine mobile money firm

Ant Financial takes equity stake in Phillippine mobile money firm

20 February 2017  |  4975 views  |  1 comments | 6 tweets | 6 linkedin
China's Ant Financial goes global in bid for two billion users in 10 years

China's Ant Financial goes global in bid for two billion users in 10 years

20 January 2017  |  9706 views  |  0 comments | 23 tweets | 15 linkedin
Paytm gets RBI nod for payments bank launch

Paytm gets RBI nod for payments bank launch

03 January 2017  |  6192 views  |  0 comments | 7 tweets | 6 linkedin
Ant Financial enters SE Asia with investment in mobile money firm Ascend

Ant Financial enters SE Asia with investment in mobile money firm Ascend

01 November 2016  |  4867 views  |  0 comments | 5 tweets | 3 linkedin
Paytm banking plans boosted by $60 million funding round

Paytm banking plans boosted by $60 million funding round

30 August 2016  |  4158 views  |  1 comments | 6 tweets | 1 linkedin
India's Paytm enlists Wipro for payments bank tech platform

India's Paytm enlists Wipro for payments bank tech platform

02 May 2016  |  6870 views  |  1 comments | 4 tweets | 6 linkedin
Alibaba affiliate Ant Financial raises $4.5 billion to expand overseas

Alibaba affiliate Ant Financial raises $4.5 billion to expand overseas

26 April 2016  |  3836 views  |  0 comments | 8 tweets | 4 linkedin
India's Paytm preps sound wave-based mobile payments

India's Paytm preps sound wave-based mobile payments

19 January 2016  |  7062 views  |  2 comments | 11 tweets | 8 linkedin
Alibaba takes 40% stake in India's Paytm

Alibaba takes 40% stake in India's Paytm

29 September 2015  |  7863 views  |  0 comments | 18 tweets | 11 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.events.sap.comvisit www.www.fisglobal.comvisit vasco.com/news/PSD2-compliant-solutions

Top topics

Most viewed Most shared
Live: EBAday 2017, day twoLive: EBAday 2017, day two
9429 views comments | 4 tweets | 5 linkedin
Worldpay pilots app-only mPOS for small retailersWorldpay pilots app-only mPOS for small re...
9092 views comments | 18 tweets | 27 linkedin
Live: EBAday 2017, day oneLive: EBAday 2017, day one
8588 views comments | 3 tweets | 4 linkedin
UK banks will need to change one million sort codes under ring-fencing rulesUK banks will need to change one million s...
8107 views comments | 8 tweets | 25 linkedin
What Banks and their customers can expect for the futureWhat Banks and their customers can expect...
7008 views comments | 7 tweets | 10 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job