China's Alibaba, which counts SoftBank as its biggest investor, already holds a stake in Paytm.
Paytm said on Thursday it has raised $1.4 billion from Japan's SoftBank Group in a deal that will help the digital payments startup expand its user base and maintain its lead in Asia's third-largest economy.
SoftBank will also get a board seat in Paytm after the investment, which was made into Paytm parent One97 Communications, according to a statement from the Indian digital payments provider.
China's Alibaba, which counts SoftBank as its biggest investor, already holds a stake in Paytm.Also read: Nasscom Denies Mass IT Layoffs; Warns Employees to 'Re-Skill or Perish'
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