Published By : 26 Apr 2018 | Published By : QYRESEARCH
According to the most recent filings with MCA, Paytm Mall has gotten the third of the four tranches as a major part of its massive US$455 mn financing round. The E-commerce major has now gotten US$220 mn of the overall fund. In the 3rd tranche, both Alibaba and SoftBank have together fill in US$110 mn. A report by a Indian leading newspaper daily states that the current investments raises the stake of SoftBank to 11.99% while decreases the stake of Alibaba to 50.8% in Paytm Mall. Earlier this month, Paytm Mall officially received a unicorn status at a total worth of US$2 bn. A regulatory filing by Paytm, SoftBank has contributed US$400 mn while the rest of the sum that is US$45 mn, has been contributed by Alibaba. The primary tranche of US$53.4 mn was said to be filled earlier in at the time of fund declaration.
On the basis of the TMall retail model of China, Paytm Mall began its operations as a self-governing entity from Paytm and a retail app in February 2017. In March 2017, Alibaba put in US$200 mn in the firm. Further, in December, it was reported that Paytm was planning to put nearly US$2.5 Bn in its E-commerce business in the next few years. In terms of the numbers, at the tile of its rollout, Paytm Mall had more than 140,000 merchants. According to the website of the organization, it currently has more than a 100 million clients, over 500 categories and has touched 39,000 pin codes.