Softbank Group has spread its investment across major players in India’s burgeoning e-commerce market, including in home-grown Flipkart, Snapdeal and Paytm E-Commerce.

As per a regulatory filing, as part of a funding round that values India’s Paytm E-Commerce Pvt. Ltd at $1.9 billion, Japan’s SoftBank Group will invest $400 million with exsiting investor Alibaba also sinking in another $445 million in this round.

Softbank, a major investor in India’s fast-growing e-commerce sector, is already an existing stakeholder in Paytm’s parent; it has confirmed it investment in Paytm Mall, the brand name under which Paytm E-Commerce operates an online market place.

“We believe Paytm Mall’s offline-to-online operating model, combined with the strength of the Paytm ecosystem, is uniquely positioned to enable India’s 15 million offline retail shops to participate in India’s e-commerce boom,” said SoftBank in a statement.

In a separate statement, Paytm Mall’s chief operating officer Amit Sinha, said, the firm would utilize these investment to beef up its technology and build superior logistics among other things.

As per a filing with India’s Registrar of Companies, SoftBank units will get a 21.1% stake in Paytm E-Commerce following the investment, which will come in 4 tranches.

Alibaba.Com Singapore E-Commerce Pvt. Ltd, which currently owns 36.3 percent of the Indian e-retailer, will continue to remain Paytm E-Commerce’s single-largest shareholder.

Paytm E-Commerce competes with India’s home-grown Flipkart and Amazon.com Inc’s Indian unit.

A group company of Paytm’s parent One97 Communications Ltd runs India’s biggest digital wallet services and also has a stake in a payments bank.