Paytm raises $1b in T Rowe Price-led round, valuation jumps to $16b

Vijay Shekhar Sharma at the Asia PE-VC Summit 2018 organised by DEALSTREETASIA

Indian financial technology (fintech) giant Paytm has raised $1 billion in a new financing round led by US-based global asset manager T Rowe Price and backed by existing investors Ant Financial, SoftBank Vision Fund, and Discovery Capital, the company said Monday.

The Series G funding round values Paytm at about $16 billion and comes as the company is set to start preparations for an initial public offering (IPO) in the next 22-24 months.

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