Paytm Mall Revenue, Valuation, Funding & Investors

Paytm Mall is valued at $3B as of July 2019, a 28.8x multiple on its last reported $104M revenue.

Last Paytm Mall valuation

$3B

Strategic investment · Jul 2019

Last Paytm Mall funding round

$150M

Strategic investment · Jul 2019

Paytm Mall revenue

$104M

Strategic investment · Jul 2019

Key investors in Paytm Mall

Paytm Mall Overview

About Paytm Mall

Paytm Mall is the e-commerce marketplace arm of Noida-based One97 Communications, operating online and via mobile app for consumer goods in India. Launched in 2017, it features cashback deals, seller financing, and logistics through Paytm's network, serving fashion, electronics, and groceries with same-day delivery in major cities.


Founded

2010

HQ

IndiaNoida

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Revenue

$104M (Jul 2019)

Valuation

$3B (Jul 2019)

Paytm Mall Valuation

Paytm Mall is currently valued at $3B, based on its strategic investment round in July 2019.

The $150M round was led by eBay.

Paytm Mall's valuation has grown 2.7x from $1.1B at its Series A in March 2017 to $3B in July 2019, across 3 priced rounds.

Paytm Mall valuation by funding round

Revenue multiple
Paytm Mall valuation by funding round
DateStageValuationRevenue Multiple
Jul 2019Strategic investment$3B28.8x
Jun 2018Undisclosed stage$1.9B18.3x
Mar 2017Series A$1.1B-

Paytm Mall Revenue

Paytm Mall's latest recorded revenue is $104M, as of its strategic investment round in July 2019. At a $3B valuation, that implies a 28.8x revenue multiple.

Revenue moved from $104M in June 2018 to $104M in July 2019, while the revenue multiple moved from 18.3x to 28.8x.

Paytm Mall revenue by funding round

Paytm Mall revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jul 2019$104M$3B28.8xStrategic investment
Jun 2018$104M$1.9B18.3xUndisclosed stage

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Paytm Mall Funding History

Paytm Mall has raised a total of $795M across 3 funding rounds.

Paytm Mall's first fundraising round was a $200M Series A in March 2017. The most recent completed round was a $150M strategic investment round in July 2019.

Paytm Mall funding rounds

Paytm Mall funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2019Strategic investmenteBay (lead)$150M$3BPaytm Mall, a Noida-based e-commerce platform and subsidiary of Indian fintech unicorn Paytm, received a strategic investment from eBay in July 2019, acquiring a 5.5% stake for approximately $150-200 million, with regulatory filings confirming $160 million via issuance of equity shares at $1,249.73 per share. The deal valued Paytm Mall at around $3 billion according to multiple reports, though one filing indicated $2.86 billion post-investment based on a June 18 valuation report. This marked eBay's renewed commitment to the Indian e-commerce market following prior investments in Flipkart and Snapdeal, enabling eBay's global inventory to be sold on Paytm Mall, facilitating cross-border transactions for its customer base. Paytm Mall, founded in 2017, had raised over $600-645 million previously from investors including SoftBank, Alibaba, Ant Financial, and SAIF Partners, with a prior valuation of about $2 billion. The company operated with nearly 300,000 merchant partners, processing 225,000 orders daily, and over 12 million registered merchants within the broader Paytm ecosystem serving 450 million registered customers and 130 million active users. In FY19, it reported GMV of Rs 13,000 crore ($1.8 billion), targeting Rs 17,000 crore ($2.3 billion) in FY20 on a contribution-positive basis, while reducing monthly spends from Rs 200 crore to Rs 40 crore and cutting cashbacks by over 80%. The partnership positioned Paytm Mall to capture 15-20% of gross sales from cross-border eBay inventory, amid a strategic shift towards wholesale commerce and resellers in India. Paytm Mall recorded a net loss of $245.65 million in FY2018, up significantly from the prior year, as it navigated intense competition in the Indian e-commerce sector dominated by players like Amazon and Flipkart. The investment supported cost efficiencies and growth in a market where eBay sought to leverage its $95 billion global gross sales against domestic challenges like U.S. sales tax changes.
Jun 2018Undisclosed stageSoftBank Group (lead); Alibaba Group$445M$1.9BPaytm Mall is the e-commerce arm of Paytm (One97 Communications), India's leading mobile payments platform founded by Vijay Shekhar Sharma. The platform operates an offline-to-online (O2O) model designed to enable India's 15 million offline retail shops to participate in the country's e-commerce ecosystem, partnering with small merchants and local retailers rather than relying solely on centralized warehousing. In April 2018, Paytm Mall raised approximately $445 million in new funding led by SoftBank Vision Fund with participation from Alibaba.com Singapore E-commerce, valuing the company at between $1.6 and $2 billion. SoftBank contributed around $400 million while Alibaba contributed approximately $45 million to this round. This investment marked Alibaba's entry into the e-commerce business directly, having previously backed the core Paytm payments business through Ant Financial's $1.4 billion investment in parent company One97 Communications in 2017. SoftBank noted that Paytm Mall's O2O operating model combined with the strength of the broader Paytm ecosystem positioned it uniquely to capture India's e-commerce growth, particularly among small merchants and underserved markets. The company planned to use the funding to expand merchant acquisition and strengthen its operational capabilities across its growing suite of businesses.
Mar 2017Series AAlibaba Group (lead); Elevation Capital$200M$1.1BPaytm Mall, the e-commerce arm of Paytm (One97 Communications), focused on an online-to-offline (O2O) model partnering with physical stores to drive sales, competing with Amazon and Flipkart in India. It launched around 2017 amid Paytm's expansion into e-commerce leveraging its payments user base. Paytm as a group reported strong growth in FY17 (ended March 31, 2017) with 1.5 billion transactions and $5 billion GMV across payments. One97 Communications (parent) posted revenue of ₹829 crore in FY17, up 38% YoY. Paytm Mall's later performance included a reported $3 billion GMV run rate in subsequent years and FY19 revenue of Rs 968 crore with reduced losses. Losses widened in FY18 to ₹1,787 crore for Paytm Mall. A later funding round valued Paytm Mall at $1.9 billion (unicorn status) with ~$450 million raised from SoftBank and Alibaba, reducing Alibaba's stake from 57% to 46%. Paytm Mall expanded to 700 towns and 75,000 stores, targeting $10 billion GMV run rate by FY19 end. The platform faced challenges like logistics issues, fraud, and cashback dependency, leading to valuation drop and eventual shutdown.

Who has invested in Paytm Mall?

4 investors have backed Paytm Mall across its funding rounds, including Alibaba Group, SoftBank Group, Elevation Capital and eBay.

Lead investors include eBay, SoftBank Group and Alibaba Group.


Paytm Mall Investors

Investors in Paytm Mall by funding rounds participated
InvestorHQRoundsRoleFirst check
Alibaba GroupChinaHangzhou2LeadMar 2017
eBayUnited StatesSan Jose, CA1LeadJul 2019

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Investments by Paytm Mall

Paytm Mall has invested in 1 company to date.

Latest investment by Paytm Mall was on October 25th 2017. Paytm Mall invested in BigBasket in their $5M Series A round.


Latest Investments by Paytm Mall

BigBasket
BigBasket
Description
BigBasket is a Bengaluru-headquartered online grocery retailer operating in over 25 Indian cities. Acquired by Tata Digital in 2021, it offers more than 40,000 products including fresh fruits, vegetables, staples, personal care items, and household essentials. Customers select from slotted delivery windows via bigbasket.com, with all items undergoing quality checks and secure packaging before doorstep arrival.
BigBasket is a Bengaluru-headquartered online grocery retailer operating in over 25 Indian cities. Acquired by Tata Digital in 2021, it offers more than 40,000 products including fresh fruits, vegetables, staples, personal care items, and household essentials. Customers select from slotted delivery windows via bigbasket.com, with all items undergoing quality checks and secure packaging before doorstep arrival.
HQ CountryIndiaIndia
HQ City
Bangalore
Bangalore
Deal Date25 Oct 20178 Sep 2017
RoundSeries ASeries E
Raised$5M$280M
InvestorsSands Capital Ventures; Ascent Capital; Bessemer Venture Partners; Trifecta Capital Advisors; International Finance Corporation; Alibaba Group; Brand Capital; Helion Venture Partners; Abraaj GroupSands Capital Ventures; Alibaba Group; Abraaj Group
Valuationundisclosed$800M
EV/Revenue
EV/EBITDA

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Paytm Mall Competitors

Paytm Mall competitors include listed companies like People and Mercari, and private ones like Whop, KK Group, Flutterwave and Uzum.

Public and private companies comparable to Paytm Mall
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
WhopUnited StatesNew York City, NYPrivate$142M-$1.6B11.3x
KK GroupChinaDongguanPrivate$244M-$3B12.3x
PeopleUnited StatesUnited StatesPublicly listed$2.4B$122M$2.8B1.6x
FlutterwaveNigeriaLagosPrivate$95M-$3.3B-
UzumUzbekistanTashkentPrivate$691M-$2.4B3.5x
MercariJapanJapanPublicly listed$1.5B$282M$3.9B2.4x

Paytm Mall Public Comps

Paytm Mall is still privately-owned, but its public comps include Goto Gojek Tokopedia, Seek, People, SMG Swiss Marketplace Group, Urban Company, Inchcape, Visional, Mercari, Travel+Leisure and TX Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Goto Gojek Tokopedia$1B($16M)2.0x1.7x(125.5x)13.1x
Seek$914M($63M)4.2x4.5x(61.7x)10.2x
People$2.4B$122M1.3x1.6x25.4x11.3x
SMG Swiss Marketplace Group$404M$175M8.4x7.7x19.5x13.9x
Urban Company$162M($26M)14.4x12.3x(90.6x)(72.0x)
Inchcape$12B$867M0.4x0.4x5.4x5.0x
Visional$515M$157M3.3x2.6x10.8x9.3x
Mercari$1.5B$282M2.4x2.4x12.7x11.7x

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Common questions about Paytm Mall

When was Paytm Mall founded?Paytm Mall was founded in 2010.
Where is Paytm Mall headquartered?Paytm Mall is headquartered in Noida, India.
Is Paytm Mall publicly listed?No, Paytm Mall is a private, VC-backed company.
What is Paytm Mall's valuation?Paytm Mall was last valued at $3B in its strategic investment round in July 2019.
How much funding has Paytm Mall raised?Paytm Mall has raised $795M across 3 funding rounds.
What was Paytm Mall's last funding round?Paytm Mall's last funding round was a $150M strategic investment round in July 2019, led by eBay.
Who are Paytm Mall's investors?Paytm Mall's investors include Alibaba Group, eBay, Elevation Capital and SoftBank Group.
What is Paytm Mall's revenue?Paytm Mall's latest recorded revenue is $104M (July 2019).
What is Paytm Mall's revenue multiple?Paytm Mall's latest valuation implies a 28.8x revenue multiple ($3B valuation on $104M of revenue).
Which companies are comparable to Paytm Mall?Companies comparable to Paytm Mall include Whop, KK Group, People, Flutterwave, Uzum and Mercari.
How many companies has Paytm Mall invested in?Paytm Mall has invested in 1 company, including BigBasket.
What was Paytm Mall's last investment?In October 2017, Paytm Mall invested in BigBasket's $5M Series A alongside Sands Capital Ventures, Ascent Capital, Bessemer Venture Partners and 6 other investors.

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