India-based digital payments company Paytm has raised USD1 billion in an investment round led by US-based asset manager T. Rowe Price. Additional participants in the round, which reportedly values the company at USD16 billion, include the SoftBank Vision Fund, China-based online payment platform Ant Financial, and global venture capital investor Discovery Capital. Ant Financial and the SoftBank Vision Fund contributed USD400 million and USD200 million to the round, respectively. Paytm will use the funding to expand its services, adding lending, insurance, investments, and stockbroking to the platform, as well as strengthening its content offerings with games, news, and videos.