Paytm Mall receives $110M funding from SoftBank & Alibaba.
The third of the four tranches of Paytm Mall’s recent $445-million funding round has come in.
This infusion fills up Paytm’s offers with a total of $220 million and increases SoftBank’s stake to 11.99% while bringing down Alibaba’s (along with Alipay’s) stake to 50.8%.
Japan’s SoftBank and China’s Alibaba have together infused $110 million into the online marketplace, according to the company’s latest filings with the Ministry of Corporate Affairs (MCA).
This infusion comes as the e-commerce industry seems to be getting intensely competitive with no dearth of funds. While Amazon India has its war chest full, Flipkart currently is in talks to receive a massive investment from Walmart.