Paytm Mall to raise $446 mn from SoftBank and Alibaba

Paytm Mall

Paytm Mall, the ecommerce arm of Paytm, has received capital infusion commitment of around Rs 2,900 crore ($450 million) from Japan's SoftBank Group and existing investor Alibaba Group Holding Ltd, documents filed with Registrar of Companies (RoC) revealed.

He added that Paytm Mall will use the funds to empower shopkeepers with superior technology, logistics and to strengthen the brand and customer experience.

SoftBank and GCL's new venture will eventually have a capacity of 4GW and will be implemented in two 2GW phases.

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Of the total funds invested, Rs 2,600 crore will come from SoftBank, while Alibaba will put in the rest.

When contacted, Paytm Mall COO Amit Sinha said the latest investment led by Softbank and Alibaba reaffirms the strength of the company's business model, growth trajectory and execution capability.

Various media reports said the deal values the ecommerce firm at around $2 billion. Paytm Mall is also SoftBank's third investment in any e-commerce venture in India after Snapdeal and Flipkart. The first tranche of Rs. 357.5 crores has already made its way to Paytm Mall.

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SoftBank has planned to invest as much as $25 billion in Saudi Arabia over the next three to four years, according to Bloomberg. Previously, this third position was loosely held by Snapdeal but its downfall previous year certainly seems to have paved the way for Paytm Mall's rise. The startup also boosts good numbers and tractions, with the company claiming that its GMV (gross merchandising value) has touched the run rate of $3 billion. This will be SoftBank's second investment in an online retailer in India.

Paytm Mall in India competes with Amazon and homegrown Flipkart, both of which are immensely popular among India's online shoppers.

Owing to its different business model, Paytm Mall has certainly earned a niche for itself in the highly competitive e-commerce market.

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