Paytm raises $1 billion in fresh funding

Digital payments company Paytm said on Monday it has raised fresh funds from a group of investors, including existing backers such as SoftBank’s Vision Fund and Alibaba’s Ant Financial.

Paytm did not officially disclose details of the funding, but a source said the Indian company raised $1 billion in the latest round.

Accounts advised by T. Rowe Price Associates were among the new investors for the fund, Paytm said in a statement.