Snapdeal continues to struggle in the e-commerce market. After suffering losses last fiscal, one of its investors, FIH Mobile, the investment firm of Foxconn Technology Group, has written off its $40 million investment.
SoftBank Group is investing $400 million (26.05 billion Indian rupees) in India’s Paytm E-Commerce Pvt. Ltd in a funding round that will value the online retailer at roughly $1.9 billion, a regulatory filing showed.
Flipkart has pumped in an additional Rs 518 crore (approx $ 80 million) into its digital payments platform Phonepe, according to the company’s latest documents filed with the Registrar of Companies (RoC).