After Attempts At Flipkart-Snapdeal Matchmaking, SoftBank To Invest $1.5 Bn In Paytm
Ecommerce and payments platform Paytm is reportedly in talks with Japan-based SoftBank to raise about $1.5 Bn in a cash deal, as per a report by Livemint. The proposed deal is expected to raise Paytm’s valuation to somewhere between $7 Bn-$9 Bn, as per sources close to the development.
Earlier this month, it was reported that along with trying to offload Snapdeal to Flipkart, Softbank shifted its focus to sell Snapdeal’s subsidiary FreeCharge too. According to reports, Flipkart-appointed advisor ‘Goldman Sachs has begun working with Credit Suisse to hammer out the final terms and conditions’ of Snapdeal’s sale.
At that time, it was also suggested that the Japanese investor was planning to sell FreeCharge for as low as $150 Mn-$200 Mn.
Now, it is being predicted that, as a part of the deal, Paytm may also buy Freecharge. However, sources have mentioned that the ‘fundraising is not contingent upon the proposed buyout.’