The funding comes less than a month after the Noida-based digital payments firm announced its $1 billion fund-raise from SoftBank Vision Fund (SVF), Ant Financial, T Rowe Price and others that saw its valuation shoot up to nearly $16 billion.

Paytm is raising Rs 4,724.42 crore in fresh funding led by Alipay, according to the company’s RoC filings sourced from business intelligence platform Tofler.

SoftBank and T Rowe Price are other investors who have participated in the funding round.

The funding comes less than a month after the Noida-based digital payments firm announced its $1 billion fund-raise from SoftBank Vision Fund (SVF), Ant Financial, T Rowe Price and others that saw its valuation shoot up to nearly $16 billion.

While Alipay is routing its investment via Alipay Singapore E-commerce, SoftBank is investing through SVF Panther (Cayman), documents showed. Alipay is an affiliate of Paytm’s existing backer Ant Financial.

Alipay has invested around Rs 1,433 crore in the payments firm, SoftBank has infused Rs 1,430 crore and T Rowe Price has invested close to Rs 1,100 crore via its various entities, according to the documents. Saudi Arabia-based Samba Financial Group, Seoul-based Hana Investment Company and a clutch of other investors jointly put in rest of the funds.

In an interview to FE last month, CFO Vikas Garg said Paytm would use the funds to invest an additional Rs 10,000 crore into its payments and financial services businesses. “With this investment, we will double down on online and offline payment products and businesses. We will also invest this money to build financial services for common people, especially those who are left out from the formal financial services ecosystem,” Garg had said.

Paytm’s parent firm One97 Communications posted losses of close to Rs 4,000 crore for the year ended March 2019, against over Rs 1,000 crore in the year-ago period. Paytm is facing stiff competition from deep-pocketed PhonePe and Google Pay. A Razorpay report released last month showed Google Pay led UPI transactions in October with 61.19%, while PhonePe accounted for 24.95% of transactions.

Earlier this week, Walmart-backed PhonePe received Rs 585.66 crore in fresh capital from its Singapore parent PhonePe, the third fund infusion this calendar year, taking the total fund tally to Rs 2,027.17 crore this calendar year.