Taiwan’s Mediatek Invests $60 Million in Paytm

Taiwan’s largest chip designer MediaTek Inc is investing $60 million in Paytm’s parent company, One 97 Communications, valuing the digital payment services and e-commerce firm at about $5 billion.

The company is looking to raise a total of $300 million for expanding payments and commerce businesses and for building and launching the payments bank, the company said. Paytm recently created two separate entities for its payments and e-commerce businesses.

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