One97 Communications Limited (OCL), parent company of Paytm, has secured latest funding of nearly 660 Million from its existing investors T Rowe Price, Alipay, SoftBank and others.
Earlier in November, Paytm had raised fresh equity funds amounting to $1 billion led by T Rowe Price, with participation from existing investors – Ant Financial and SoftBank Vision Fund.
As per sources, the funds will be used to expand the merchant offerings across India to equip them with technology and various other services.
Paytm is India’s largest payments company that offers multi-source and multi destination payment solutions. It offers comprehensive payment solutions to over eight million merchants and allows consumers to make payments from any bank account to any bank account at 0% fee.
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