Paytm runs India's biggest digital payments system with more than 220 million users.
MUMBAI: Japan's SoftBank Group has invested US$1.4bil (RM6.05bil) in the parent of Paytm, giving the digital payments start-up a boost as it looks to expand its user base and maintain its market lead in Asia's third-largest economy.
A source familiar with the matter said SoftBank had bought US$1bil (RM4.32bil) of new shares in Paytm parent One97 Communications, equivalent to a 14.2% stake, and a further US$400mil (RM1.7bil) of existing shares. SoftBank and Paytm declined to give details.
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