Paytm Mall Secures $110M Fresh Funding from SoftBank & Alibaba

Japan’s SoftBank and China’s Alibaba have jointly invested $110 million into the homegrown leading online marketplace, Paytm according to the company’s latest filings with the Ministry of Corporate Affairs (MCA).

This infusion fills up Paytm’s coffers with a total of $220 million and increases SoftBank’s stake to 11.99% while bringing down Alibaba’s (along with Alipay’s) stake to 50.8%.

This infusion comes as the e-commerce industry seems to be getting intensely competitive with no dearth of funds. While Amazon India has its war chest full, Flipkart currently is in talks to receive a massive investment from Walmart.