Online retailer Paytm Mall has raised about ₹1,500 crore from Japan’s SoftBank Group Corp. and existing investor Alibaba Group Holding Ltd, as part of the ₹3,000 crore funding commitment that was initially announced in April, Paytm Mall said in a filing with the Registrar of Companies.
The third tranche also saw SoftBank’s Kabir Misra joining the Paytm Mall board, according to documents sourced from business intelligence platform paper.vc. According to Paytm Mall spokesperson, Michael Evans, president of Alibaba, has also stepped down from the Paytm Mall board.
