Swiss bank UBS is currently negotiating a deal worth $400mn with Indian FinTech Paytm, Bloomberg reports.
In Brief:
UBS wants to invest alongside some of its own clients in the payments business.
Paytm was most recently valued at $16bn.
The businesses aim to finalise a deal this month, say reports.
What does this mean?
Paytm already has giants like Softbank and Ant Financial among its investors. The 10-year-old payments giant has yet to turn a profit, but could do so this year according to CEO Vijay Shekhar Sharma.
