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Paytm raises $300 million from Warren Buffett’s Berkshire Hathaway

One97 Communications Ltd parent company of Paytm has raised ₹2,200 million from Warren Buffett’s Berkshire Hathaway Inc, India’s largest payment services provider talks with Berkshire Hathaway have been on since early February this year to raise about ₹2,200 at a valuation of about $10 billion, the investment gives Berkshire Hathaway a 2.9% stake in the company and Alibaba Group as its largest shareholder with a 38.4% stake in company, It is also a rare deal for the world’s best known investor, who typically avoids internet firms, and is being considered a boost for India’s startup industry.

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September 28 2018
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