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Paytm raises $1 Bn in financing round from SoftBank, Ant, others

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5 years ago

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New Delhi: India’s digital payments pioneer Paytm announced new funding from existing shareholders like SoftBank Group Corp.’s Vision Fund and new investors, as competition in the country’s finance sector heats up.

The company has raised $1 billion in a funding round led by the US-based asset manager T Rowe Price. The others include existing investors Softbank and Ant Financials, which have invested $200 million and $400 million, respectively. Existing investor Discovery Capital and D1 Capital also participated in this round.

Company-founder Vijay Shekhar Sharma confirmed the investments. The funding round valued Paytm at $16 billion, making it the second most valued Indian startup after Flipkart. In 2018, Flipkart was valued at $21 billion when Walmart acquired a majority stake in the company.

The company will expand into insurance, lending and investments and invest 100 billion rupees ($1.39 billion) over the next three years to include more users in the country, Paytm said.

Paytm’s investment comes almost a year after it had raised money from Warren Buffett’s Berkshire Hathaway in September last year. The funding round had valued the company at $10 billion.In the previous round, Paytm had raised $300 million from Warren Buffett’s Berkshire Hathaway in 2018. The company was valued at $10 billion then. In the year since, the company has cashed out employee stock options. This is the first primary funding round since Berkshire Hathaway’s investment.

As for competition, Sharma was confident that they are miles ahead of Paytm’s rivals GooglePay, Amazon Pay and PhonePe. He added that these platforms have been spending billions of dollars in the last two-three years but couldn’t even “touch” their payments business. “We have been successful in not just protecting but increasing our market leadership,” he stated

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Apple is giving a huge discount on its gadgets: Details inside

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3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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