Paytm, a digital payments unicorn platform is reportedly in a discussion with multiple investors, including former UK Prime Minister David Cameron to raise a funding round of $1 billion (approx INR 7,175 crore), reported Mint, citing sources.
As per the above mentioned sources, the discussions are on and might take a few weeks to get finalised.
The funds if infused, will be utilized to expand the merchant offerings across India to equip them with technology and various other services, added sources.
Based out of Noida, Paytm was founded in 2010 by Vijay Shekhar Sharma with an aim to bring ease in the digital payments ecosystem across India.
While on Monday, Paytm had said that it is planning to invest around USD 1.4 billion over the next three years to expand financial services.
As per the reports in 2018, Paytm, which is facing mounting losses, was looking at raising up to $2 billion in funding.