Paytm Invests

Fintech firm One97 Communications, which owns Paytm brand, plans to invest Rs 100 crore in Gujarat International Finance Tec-City (GIFT City) to build a global financial ecosystem, the company said on Wednesday. The company will make the investment over a period of time and will seek requisite approvals for the same. "GIFT City is set to become a global financial hub, further putting India on the world map for innovation. The strategic investment in GIFT City represents a pivotal step towards building an Artificial Intelligence-driven cross-border remittance and payments technology landscape, presenting global opportunities. This will enable us to deliver fast, reliable, and cost-effective remittance solutions, reducing friction, at a global scale," One97 Communications Founder and CEO Vijay Shekhar Sharma said in a statement. With GIFT city as an ideal innovation hub for cross-border activity, Paytm will use its proven capability to innovate and build new tech for users across the

It disbursed personal loans amounting to Rs 3,927 crore and merchant loans worth Rs 3,275 crore in Q2FY24

Assuming a full buyback of Rs 850 crore and applicable buyback taxes, the total outlay would be in excess of approximately Rs 1,048 crore

While a buyback could help stem the rout in Paytm shares at least temporarily, investors are questioning the attempt to manage the stock price rather than putting the cash to use for business

Macquarie report says the fintech firm could face headwinds with the entry of Jio Financial Services, which may focus on consumer and merchant lending, the mainstay of Paytm's business

Paytm Q1FY23 results: JPMorgan pegs net loss at Rs 672.3 crore, down from Rs 761 crore QoQ

The number of loans disbursed through our platform grew 492% y-o-y to 8.5 million loans in the quarter ending June 2022, while the value of loans disbursed grew 779% y-o-y to Rs 5,554 crore ($703 mn)

Paytm founder and CEO Vijay Shekhar Sharma on Tuesday said he has doubled his commitment for an investment fund being set up by alternative asset manager Root Ventures. Root Ventures expects to close the fund in December with a corpus of Rs 200 crore, according to its founder Japan Vyas. It plans to invest in "direct-to-consumer" brands that provide natural and organic categories, plant based protein, and healthy beverages like tea monk. "I am happy to increase my investment with Vyas and the team at Roots Ventures who have an investing track record of picking winners across business cycles over more than a decade," Sharma told PTI. Sharma added that right from his days when he invested in Paytm in 2010 or later when he bet on firms like RBL Bank, NSE, Indusind Bank, Veeba and Hindustan Foods, Vyas has been able to identify emerging trends and invest into them ahead of others. "Their low-profile investing style has held them in good stead even in their current fund which has weathe

The company said it expects to employ technology across the growing internet to become the dominant player in AI.

The fintech major did not disclose the investment amount