A decade after Jack Ma’s bet, Paytm’s China ties end

Chinese financial services giant AntFin is selling its remaining 5.8% stake in One 97 Communications, the parent company of Paytm, for Rs 3,800 crore. This move comes after another key investor, Japan’s SoftBank, exited its entire holding in 2024.

The exits mark the end of a high-profile Japanese-Chinese investor chapter in Paytm’s journey, from becoming India’s most valued startup at $15 billion, to a lacklustre IPO in 2021, and a volatile public market performance thereafter.

Gradual exits

Since Paytm’s public listing, AntFin has been…