{"id":33706,"date":"2019-11-25T12:00:46","date_gmt":"2019-11-25T06:30:46","guid":{"rendered":"http:\/\/officechai.com\/?p=33706"},"modified":"2019-11-25T12:00:46","modified_gmt":"2019-11-25T06:30:46","slug":"paytm-raised-1-billion-valuation-16-billion","status":"publish","type":"post","link":"https:\/\/officechai.com\/startups\/paytm-raised-1-billion-valuation-16-billion\/","title":{"rendered":"Paytm Has Raised $1 Billion At A Valuation Of $16 Billion"},"content":{"rendered":"

Paytm has further cemented its place as India’s most valuable startup.<\/span><\/p>\n

Paytm has raised $1 billion (Rs. 7000 crore) in its Series G funding round led by US asset manager T Rowe Price and existing investors Ant Financials and Softbank. Ant Financials, which is owned by Alibaba, contributed $400 million, while Softbank put in $200 million from its Vision Fund. The round valued Paytm at $16 billion, slightly higher than the $15 billion valuation the company had claimed<\/span> <\/a>in August this year.<\/span><\/p>\n

Paytm CEO\u00a0Vijay Shekhar Sharma\u00a0said the firm will use the fresh capital to court merchants as the company looks to expand its presence among small and medium-sized businesses. “Today, we open next chapter in Paytm\u2019s journey of India\u2019s financial inclusion. We commit to invest additional \u20b910,000 crore to serve financially unserved \/ underserved,” he tweeted after the news of the funding became public.\u00a0<\/span><\/p>\n

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Today, we open next chapter in Paytm\u2019s journey of India\u2019s financial inclusion. We commit to invest additional \u20b910,000 crore to serve financially unserved \/ underserved.
Thank you for your guidance and support.
Dedicating it with my school time favorite Jai Shankar Prasad poem:<\/p>\n

— Vijay Shekhar Sharma (@vijayshekhar) November 25, 2019<\/a><\/p><\/blockquote>\n