According to a report, Paytm is in advanced talks with Taiwanese semiconductor maker Medaitek, Goldman Sachs, Singapore’s Temasek and others to raise the fresh funding of Rs.2,000 crore.
Notably this round will see Paytm’s valuation more than doubling to $5 billion. Its existing investors, which include Chinese Internet giant Alibaba is also expected to participate.
Earlier in June Paytm was valued at $2.3billion in the round of capital. Paytm E- Commerce Pvt ltd was set up earlier this month and is expected to initially mirror parent one97’s shareholding.