Paytm E-commerce in talks to raise up to $200m from Alibaba, others

Paytm E-commerce in talks to raise up to $200m from Alibaba, others

Vijay Shekhar Sharma and Paytm, his company One97 Communications flagship product, are abuzz on social media. Illustration by Jayachandran/Mint

Paytm E-Commerce Pvt. Ltd is close to raising $180-200 million (around Rs1,210-1,350 crore) in an investment round led by Chinese internet giant Alibaba Group Holding Ltd, valuing the online retailer at about $1 billion, said two people familiar with the development.

The funding round will take the stake of Alibaba and its affiliate Ant Financial in Paytm E-Commerce, an entity newly created by One97 Communications Ltd to house the online retail business, to more than 50% from 42%, the two people said on condition of anonymity.

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