Paytm on a rapid expansion mode, floats two new entities in insurance biz

One97 Communications now has 6 firms under its umbrella, including Paytm, Paytm Money, Paytm Mall, Paytm Payments Bank

On a rapid expansion mode mobile fintech major Paytm has launched two more firms with an aim to enter the insurance sector in the country. This move has taken its total count of companies to six.

According to documents filed with Registrar of Companies (RoC) which were sourced from data intelligence platform Paper.vc, the Vijay Shekhar Sharma-led firm has started Paytm Life Insurance Corporation Limited as well as Paytm General Insurance Corporation Limited. Both the companies have Sharma as one of the directors.

While Paytm did not comment on the RoC filing, sources said that these two companies would be