Express News

Softbank Is Trying To Invest In Paytm!

As Paytm is trying to buy the Soft-bank supported Freecharge, softbank is already in talk with Paytm to invest in them.

There is already discussion going to merge Softbank backed Snapdeal with Flipkart, and now Softbank is trying to sell their Freecharge to Paytm additionally invest in Paytm.

Paytm is also in talk with Canada Pension Plan Investment Board (CPPIB) like investors to raise funds of $1 Billion for Paytm. If they takes the money, paytm will be valued of $6 Billion. The use of all this digital payment service increased after the demonetization. So paytm is trying to burn money for now to make a sold user base.

Softbank is trying to put in money and also sell Freecharge at a much lower price of $200 million.

In recent Paytm got $200 million fresh funding from Alibaba. Paytm is planning to enter the e-commerce Business with Paytm Mall against Flipkart & Amazon.

“The discussions are still preliminary . If the talks reach a conclusion, SoftBank is ready to back Paytm with long-term plans,” according to a source. The other softbank backed startups in India are Ola, Oyo Rooms, Grofers and Housing.

Read MorePaytm Mall will compete with Amazon and Flipkart now!

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Trishit Chakraborty

Technology is love, blogging is passion. Co-founder of Headline Authority. A Techworm blogger who is persuing his Engineering exposing his readers to the news arenas!

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