New Delhi: Fintech company Paytm is believed to be in Discussions with Japanese Conglomerate SoftBank to Raise over $1 Billion. The Deal, if Successful, will value the Alibaba-Backed Paytm at over $7 Billion from the Current $5 Billion, multiple sources said.
When contacted, Paytm & SoftBank Declined to Comment Interestingly, SoftBank was an Early Investor in Alibaba. The Talks come at a Time when SoftBank is Working on a Sale Plan of E-Commerce Firm Snapdeal & is likely to make an Announcement in the next few weeks.SoftBank is the Largest Shareholder in Snapdeal, which is Locked in an Intense Battle with Amazon India & Flipkart. One of the sources said Paytm may buy Snapdeal-Owned Payments Firm Freecharge as part of the Transaction with SoftBank.