NEW DELHI—The parent company of popular Indian mobile-payments startup Paytm said it has secured $1 billion in fresh funds from Japan’s SoftBank Group Corp. and China’s Ant Financial Services Group, giving it more firepower in a fast-growing but crowded market.
The investment values the parent company, One97 Communications Ltd., at $16 billion, according to a person familiar with the matter, making it one of Asia’s most valuable startups.
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