One97 Communications Ltd, the parent company of digital payments firm Paytm. It is raising $1.5-2 billion from its existing investors SoftBank Vision Fund and Alibaba’s financial affiliate Ant Financial, a media report said. The round may see new investors also put in money in the payment company, the report said.
The new round will take the company’s valuation up to $16-18 billion, The Economic Times reported, citing persons in the know. Paytm was valued at $10 billion when it last raised capital from Warren Buffett’s Hathaway in August last year while a secondary sale a few months ago valued the company at $16 billion, the report said, citing undisclosed persons in the know.
One97 operates digital payments and e-commerce businesses through separate entities. Currently, SoftBank owns 19% stake and the Alibaba group holds 38% in One97 Communications, said the ET report.
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