Alibaba Group Holding Limited BABA, Ant Financial Services Group
and One97 Communications, the parent company of Paytm, India's largest
mobile payment & commerce platform, announced today an agreement under
which Alibaba and Ant Financial have agreed to make a strategic
investment in Paytm. Ant Financial made its initial investment in Paytm
in February 2015 while Alibaba will become a new investor in Paytm after
the completion of the transaction.
The fresh capital infusion will allow Paytm to achieve scale and develop
its vibrant mobile commerce and payment ecosystem in India and invest in
marketing, technology and talent. Investing in Paytm will enhance the
ability of Alibaba
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