Paytm Mall, the e-commerce business of Indian financial services firm Paytm, has been valued at almost $2bn after a $445m investment from Softbank and Alibaba. The company said on Tuesday that it had raised $400m in new funding to expand its operations into India with plans for more than 100 stores by 2020. Paytm Mall is looking to rival Flipkart and Amazon, using an offline-to-inline approach and its parent company's payments ecosystem to target India's 15 million offline retailers.
Paytm Mall, the e-commerce business of Indian financial services firm Paytm, has been valued at almost $2bn after a $445m investment from Softbank and Alibaba. Investing $400m and $45m, Softbank and Alibaba's stakes in Paytm Mall increase to 21% and 46% respectively. Paytm Mall is looking to rival Flipkart and Amazon, using an offline-to-inline approach and its parent company's payments ecosystem to target India's 15 million offline retailers.