Home Retail Alibaba, SAIF Partners to invest US $200 in Paytm’s online marketplace unit

Alibaba, SAIF Partners to invest US $200 in Paytm’s online marketplace unit

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Chinese e-commerce major , along with investment firm , are set to invest US $200 million in ’s online marketplace unit.

Alibaba, SAIF Partners to invest US 0 in Paytm's online marketplace unit
Earlier this week, Paytm launched a separate smartphone app and website—Paytm Mall—for its online marketplace and is aggressively hiring people for expanding the operations

Alibaba Singapore E-Commerce Pvt. Ltd will invest US $177 million in Paytm E-Commerce Pvt. Ltd—a unit of ’s that operates under Paytm brand. The remaining amount will come from SAIF Partners, an early investor in One97, according to a filing with the Registrar of Companies.

According to a PTI report: Post the investment, Alibaba Singapore E-Commerce will have a shareholding of 36.31 per cent in Paytm E-commerce, while SAIF Partners India will own 4.66 per cent.

The US $200 million investment is expected to pave the way for the much-awaited entry of Alibaba into India, where the Chinese firm will go head-to-head with India and .

Alibaba also has a stake in , run by Jasper Infotech Pvt. Ltd.

Earlier this week, Paytm launched a separate smartphone app and website—Paytm Mall—for its online marketplace and is aggressively hiring people for expanding the operations.

One97 Communications has three units—Paytm E-Commerce, (payments bank and mobile wallet service) and .