Indian digital payment giant, Paytm, is reportedly planning to acquire the last-minute hotel booking app, NightStay Travels Pvt. Ltd for around $20 Mn.

According to sources, SoftBank and Alibaba backed e-commerce giant is all set to acquire the Delhi based company.

NightStay was founded by Khan and Deepak Negi in March 2015. It procures unsold inventory from hotel owners at a discount and offers the rooms under three categories – boutique, business and luxury class. According to the founders,

We created NightStay as we believe people should enjoy living life in the moment. Sometimes, too much planning takes the joy out of travel. The founding team of NightStay consists of travel enthusiasts who believe in the same philosophy. We’re a bunch of travel crazy geeks from Indian mobile & Internet industries with a combined professional experience of more than 50 years.

Leaders at NightStay  and PayTm have not confirmed or denied the deal.