UBS Group may invest $400 million in Paytm

As per news report, UBS Group AG, the Swiss multinational investment bank, is in discussion with Paytm to invest $400 million in the startup.

A fund which is run by the asset management arm of UBS is in discussions to buy a stake in Paytm. The news source also reported that UBS is aiming to seal the deal this month, though talks could still be delayed or fall apart.

Fintech major Paytm was valued at $16 million in a 2019 funding round. The company's backers include Jack Ma’s Ant Group Co.

Paytm competes with the likes of Google Pay, PhonePe and WhatsApp payments service.