Paytm receives another $1 billion from Softbank others; valuation reaches $16 billion
Image Credit: Shortpedia
One97 Communications Limited (OCL), parent company of Indian digital payments leader Paytm raised another $1 billion from a group of investors, including existing shareholders such as Ant Financial and Softbank Vision Fund. The valuation of One97 Communications Limited now stands at around $16 billion. Paytm said it will try to bring low-cost mobile-enabled financial services to rural India with the investment.