Paytm's parent One97 to be valued at $4.8bn post latest funding round

Taiwanese semiconductor maker MediaTek has decided to invest Rs 400 crore ($60 million) into India's One97 Communications, which runs the mobile payment platform Paytm. Post this, One97 would be valued at $4.8 billion. Before this, the company was valued at $2.3 billion

The total funding raises in this round is $300 million, and the rest of the capital would be put in by One97’s existing investors Alibaba, its payments affiliate Alipay, and venture capital firm SAIF Partners which was its earliest investor.

Also read: Paytm might raise Rs 2,000 crore in next funding, to be valued at $5 billion

"With long-haul investors, Paytm is in an incredible position to provide a new paradigm of banking and financial services," Vijay Shekhar Sharma, founder of One97, told ET. "Even without this capital, we were sitting on a runway of 36 months."

It was in 2015 that One97 had raised about Rs 4,400 crore from Alipay and Alibaba, making them owners of about 40% stake in the company.

Image source