India’s largest digtial payment services provider Paytm, owned by One97 Communications Ltd, said today that the fintech startup has raised an undisclosed amount from Warren Buffett-owned Berkshire Hathaway Inc. Berkshire’s investment manager Todd Combs, who was leading the investment discussions with Paytm, will be joining the board of One97 Communications.
Mint was first to report on Monday that Buffett’s Berkshire Hathaway Inc. is set to buy a 3-4% stake for ₹ 2,200-2,500 crore in One97, making it the billionaire investor’s first investment in an Indian company. The current round pegs Paytm’s valuation at about $10-$12 billion.
