Paytm, the Mobile Commerce and Wallet Platform has secured 2nd round of funding from the Alibaba.com and Ant Financial Services arm. It would take 20% of shares from Paytm for about $680 million deal. It has become one of the largest stake holder in Paytm with total 45% stake.
Alibaba group holding ltd Invest in paytm
The Company would be using the investment for expanding its operations, Marketing and other technology purposes.
It would also be introducing the Ticket and Event booking platform soon taking rival of bookmyshow.com.