Indian digital payment company Paytm has announced that it has raised USD 1 billion in a funding round led by T Rowe Price, a US asset manager company along with Ant Financial and SoftBank Vision Fund. Discovery Capital has also participated in the latest funding round.

With this Paytm has become the only Indian startup to raise the largest amount of funding this year.

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This funding now values the company close to USD 16 billion, Paytm said.

“It’s a USD 1 billion raise led by T Rowe Price. SoftBank has pumped in USD 200 million while Ant Financial has invested USD 400 million at a USD 16 billion valuation,” said Vijay Shekhar Sharma, CEO of One97 Communications, Paytm’s parent company.

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With this, the total investment raised by Paytm now stands at about USD 3.5 billion.