The Paytm deal marks Berkshire Hathaway’s first investment in the country’s bustling startup ecosystem. Photo: BloombergNew Delhi: One97 Communications Ltd, the parent of Paytm, has raised $300 million from Warren Buffett’s Berkshire Hathaway Inc., according to regulatory documents sourced from Paper.vc. The Paytm deal marks Berkshire Hathaway’s first investment in the country’s bustling startup ecosystem. Even though Alibaba-backed Paytm reported mounting losses, it came as a surprise to investors that Berkshire Hathaway chose to invest in Paytm, Mint also reported. Berkshire Hathaway joins a long list of globally renowned investors who have parked their money in Paytm, including Japan’s SoftBank, China’s Alibaba and Ant Financial.

Source: Mint September 27, 2018 14:26 UTC