Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Facebook Twitter Instagram
    Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Facebook Twitter YouTube
    • Featured Startups
    • Funding News
    • CEO Interviews
    • Startup Resources
    • Inspiring Stories
    • Submit Startup
      • Pitch VCs
    • More
      • Our Team
      • Advertise
      • Write for us
      • Privacy policy
      • Startup listing
      • Steal The Deal
      • Contact
    Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Home»Funding News»Paytm Raises Second Funding in Less than a Month Amid Growing Losses
    Funding News

    Paytm Raises Second Funding in Less than a Month Amid Growing Losses

    Girish ShettiBy Girish ShettiDecember 13, 20192 Mins Read
    Facebook Twitter LinkedIn Email
    Share
    Facebook Twitter LinkedIn Email

    One 97 Communications Ltd, parent company of India’s largest digital payment company Paytm, has secured fresh funding of nearly $650 Mn from slew of existing backers. Some of the prominent existing backers that participated in the funding round are Alipay Singapore E-commerce Private Ltd, SoftBank Vision Fund and T Rowe Price Growth.

    Vijay-Shekhar-Sharma,

    Alipay has reportedly infused largest amount of funding with Rs 1,433 followed by SoftBank with Rs 1,430. Reports further claimed that all existing investors will be allotted new tranche of equity shares that was recently approved by One 97’s board of director, according to business intelligence platform Tofler.

    This is Paytm’s second fundraising exercise in less than a month with the company raising whopping $1 Bn in November last month. The latest funding has propelled the company’s market valuation to nearly $15 Bn, making it probably the second most highly valued Indian startup after Flipkart. However, this handsome valuation cannot hide growing concerns amid mounting losses and ceding market share to rivals in the UPI payment space.

    While Google Pay and PhonePe are hardly giving any space to Paytm to breathe, the Gurgaon based company has also apparently burnt its finger in the e-commerce business. Paytm Mall, which was once tipped to become a major challenger to Flipkart and Amazon, failed to rise up as a challenger despite all the hype and heavy fund infusion.

    From losing grip over its cash cow business of digital payment to increasingly fledgling e-commerce business, Paytm never looked this vulnerable. A cursory glance over company’s latest numbers and this vulnerability comes out more sharply. For instance, One 97’s net loss stood at whopping Rs 3,960 for the financial year ending on March 31st.

    In the wake of mounting losses and no incremental rise in the revenue, Vijay Shekhar Sharma’s desperation to raise fresh funds to fend off competitors  doesn’t come as a major surprise. And with buzz around Paytm’s IPO growing louder, Vijay Shekhar Sharma has a major task at his hand to fix the stressed balance sheet.

     

    featured Paytm Paytm Funding Vijay Shekhar Sharma
    Share. Facebook Twitter LinkedIn Email
    Girish Shetti

    Related Posts

    AI is as risky as Nuclear Weapon, top Tech Companies claim  

    May 31, 2023

    Nvidia unveils Slew of AI Products including a new Supercomputer  

    May 30, 2023

    WhatsApp planning to launch ‘screen-sharing’ feature on Video Call

    May 29, 2023

    Twitter launches new $5000 API plan for Startups  

    May 26, 2023

    Leave A Reply Cancel Reply

    Popular Post
    • Why is one Airpod louder than the other- reason and fixes Why Is One Airpod Louder Than The Other- Reason And Fixes
    • Is Real Estate Investment Trusts a Good Career Path Is Real Estate Investment Trusts a Good Career Path? [Complete Guide]
    • advertisement examples 16 Creative Product Advertisement Examples & Ad Campaigns You Must See
    • Places that hire at 15 Places that Hire at 15 Years – Top Choices for Teenagers
    • Pestel Analysis PESTEL Analysis – What it Means and its 6 Factors Explained
    Category Posts
    • how to mark all emails as read gmail How to Mark All Emails as Read in Gmail: The Ultimate Guide to Inbox Organization
    • how to appear offline on xbox How to Appear Offline on Xbox: A Comprehensive Guide
    • how to hyperlink in discord embed How to Hyperlink in Discord Embed: A Comprehensive Guide
    • how to delete videos on facebook How to Delete Videos on Facebook: A Step-by-Step Guide
    • Accessing SQL Server Database - with SQLCMD or dbForge Studio How to access SQL Server Database without Management Studio
    Our Partners
    Shopping online for Windows tablet - DHgate
    Platform to Showcase Innovative Startups and Tech News
    Facebook Twitter YouTube
    • Popular Posts
    • Advertise
    • Submit A Startup
    • Privacy policy
    • Disclaimer
    © 2023 Techpluto. Designed by Techpluto.

    Type above and press Enter to search. Press Esc to cancel.

    Catch the latest news from Startup World in your Inbox!
    [email protected]