TIL Desk/Business/New Delhi/Alibaba-backed online marketplace company Paytm, which is in a rapid expansion mode, is in talks for a fresh round of funding for investment in banking and finance, besides other expansion plans.
The company, it is learnt, is looking to raise around Rs 12,000 crore from Japan’s SoftBank, in the single-largest investment in an e-commerce company. The funding, it is believed, could materialise within the next three weeks, though Paytm Founder and Chief Executive Officer Vijay Shekhar Sharma did not comment on it.
Paytm, in tie-up with MMTC’s Swiss venture PAMP SA, on Thursday launched a wealth-management platform that allows you to invest in gold for as low as Re 1, in the first such initiative anywhere in the world. It announced the launch of ‘Digital Gold’, a vertical to allow its 200-million plus users to buy, store and sell gold instantly.
