INDIA: CONTESTED FINTECH HOT ZONEA lot of big dollars are pouring into FINTECH companies in India especially Paytm.
AliPay just pumped big money into Paytm and now we are hearing about SoftBank.
Here's the thing: Despite all the competition, FGD continues to land deals and partnerships.
Look at the size of the investment contemplated by SoftBank--$1.8 BILLION CDN.
Now consider FGD's current market cap: $138 million CDN.
FGD appears to be a real bargain....and a juicy potential acquisition for a major player.
The payments aspect is perhaps the most developed of all in banking, with changes throughout the service chain seeing the likes of fingerprint authentication on some bank cards, or smartphones replacing others.
Every corner of the world has different needs in this regard, and SoftBank views India as a prime market to work in.
Reports are growing that SoftBank is putting $1.4bn into India’s Paytm, placing a bet on a continued surge in the spread of mobile phones to make payments in the country.
Paytm, the flagship product of One97 Communications, is India’s largest digital goods and m-commerce platform. It is also a leading payment-solutions provider for merchants through its semi-closed wallet. One97 has enjoyed many large funding injections, bringing its value to $4.2bn not long ago.
Should SoftBank’s interest be confirmed, that valuation will soar towards $7bn.
Bloomberg, though, suggests that SoftBank is not enjoying a clean run at Paytm, with two other companies in discussions to invest.
A move into India makes sense in this field, with state-led activities encouraging more and more of the 1bn population to go digital and ditch cash in recent years.
Siliconrepublic.com-May 2, 2017
Reports are growing that SoftBank is putting $1.4bn into
India's Paytm, placing a bet on a continued surge in the spread of mobile phones to ...
techcircle.vccircle.com › Internet
Mar 2, 2017 - Following the deal, the stake of Alibaba and its affiliate Ant Financial (the parent company of Alipay) in Paytm E-Commerce will increase from the current 40% to 62%. “But this will come down as the ...