SoftBank looks to invest nearly $1.4-billion in Paytm

Paytm is currently the country’s largest digital-payments provider and saw a huge surge in its user base in the aftermath of demonetisation in November 2016. If SoftBank, which already has investments in homegrown firms like Snapdeal, Ola and Oyo Rooms, now invests in Paytm then it would underline the company’s bullishness on the country’s e-commerce story.

The move will also come at a time when several e-commerce companies are either folding up or merging with bigger players for survival. Talks are already on for Snapdeal’s merger with Flipkart. SoftBank did not officially comment whether it is planning to invest in Paytm.