Paytm raises $1 bln funding: press reports

Paytm, an Indian payments company, said Nov. 24 that it raised a new round of funding from new investors including funds and accounts advised by T. Rowe Price Associates Inc among others. Existing shareholders such as Ant Financial, Softbank Vision Fund, participated in the round as well as Discovery Capital. Paytm did not disclose the amount it raised but press reports pegged the funding at $1 billion equity at a $16 billion valuation. Paytm is in talks for another $1 billion in debt, Bloomberg said.