Report: Indian mobile wallet provider set to raise $300M in new funding

August 29, 2016

India-based mobile wallet provider Paytm is reportedly raising some $300 million in new funding to bring its estimated valuation to $5 billion, according to a report from Bloomberg.

Taiwan's MediaTek Inc is at the front of the new funding round, along with some other companies, according to the report. Paytm already counts Alibaba as one of its major investors.