Ant Financial and SoftBank have expressed interest in backing a $1.2bn funding round for Paytm Money, the wealth management subsidiary of their portfolio company One97 Communications.

India-based wealth management platform Paytm Money plans to raise up to $1.2bn from investors including financial services provider Ant Financial and telecommunications and internet conglomerate SoftBank, Business Standard reported yesterday. The round would value Paytm Money at $5bn and could close within the next three months. It would make the entity the third unicorn formed…

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