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Alibaba helps fund in Paytm

SoftBank Group is investing $400 million in India’s Paytm E-Commerce in a funding round that will value the online retailer at about $1.9 billion, a regulatory filing showed on Monday.

Alibaba, an existing investor in Paytm E-Commerce, is also putting $45 million into the round, the filing showed.

SoftBank, which is among the major investors in India’s fastgrowing e-commerce sector and owns a stake in Paytm’s parent, confirmed its investment in Paytm Mall, the brand name under which Paytm E-Commerce operates an online market place.

“We believe Paytm Mall’s offline-to-online operating model, combined with the strength of the Paytm ecosystem, is uniquely positioned to enable India’s 15 million offline retail shops to participate in India’s e-commerce boom,” SoftBank said in a statement on Monday.

In a separate statement, Amit Sinha, chief operating officer of Paytm Mall, said the company would deploy the latest investment from SoftBank and Alibaba to beef up its technology and build superior logistics.

CIC may invest in SoftBank

China Investment Corp (CIC) has had talks with SoftBank’s Vision Fund about making an investment in the fund, technology news website Recode reported over the weekend, citing five sources close to the matter.

CIC talked with the Vision Fund about making an investment in 2017. Investment from CIC would bring capital for future versions of SoftBank’s projects, according to the report.

The CIC could still strike a deal that would allow SoftBank to invest alongside it, the sources said.