Paytm in talks with SoftBank

|About: SoftBank Group ADR (SFTBY)|By:, SA News Editor

Paytm is in talks with SoftBank (OTCPK:SFTBY) to raise $1.2B-$1.5B in cash, making the latter one of the largest shareholders in the fintech start-up, Mint reports.

It could also increase the electronics payments provider's valuation to $7B-$9B.

Besides investing money in the company, the deal will see SoftBank buy some shares from existing Paytm investor SAIF Partners and founder Vijay Shekhar Sharma.