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UBS Group in talks to invest $400 million in Paytm

UBS Group in talks to invest $400 million in Paytm

By Ashish Mitra --
Saturday, 16 Jan, 2021

Swiss multinational investment bank UBS Group AG is in talks to invest $400 million in Indian startup Paytm, it is gathered.

A fund run by UBS’s asset management arm is in discussions to buy a stake in Paytm. UBS aims to finalise the deal this month, though talks could still be delayed or fall apart.

Fintech major Paytm was valued at $16 million in a 2019 funding round. The company's backers include Jack Ma’s Ant Group Co.

Paytm competes with the likes of Google Pay, PhonePe and WhatsApp payments service.

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