Is Paytm a Chinese Company?

Paytm is an Indian multinational financial technology services company founded in the year 2010. It provides comprehensive digital payment services to customers and merchants through UPI, QR code, cards, bank accounts, digital credits and more. In addition, Paytm has also ventured into e-commerce and banking. Paytm has become a leading payment gateway in India.

History

Paytm was established on August 2010 by Vijay Shekhar Sharma in Noida, UP, India. The initial investment was USD 2 million and the company started as a DTH and mobile recharge platform. By the year 2013, the company had added post paid mobile bill, landline bill and debit card payments in its portfolio. In the year 2014, Paytm wallet was launched and added by Indian Railways and Uber as a payment option. The company entered the e-commerce market in the year 2015 with bus ticketing services and online deals.

Alibaba Group bought 40% stocks of Paytm in the year 2015. Paytm also received financial backing from the Tata Group. In the year 2018, Berkshire Hathaway bought 3%-4% stakes in Paytm at USD 356 million. Paytm became the first payment app to cross over 10 crore downloads in the year 2017.

Products and Services

Paytm provides mobile payment solutions to 7 million customers and merchants and is the pioneer of QR code based payment system in India. It provides a web and mobile based platform for bill payments, money transfers, travel bookings, hotel bookings, LPG cylinder bookings, gold purchases, donations and much more.

Paytm Payments Bank provides banking services, loans and credit cards and is also an investment platform to invest in mutual funds, insurance and more. Payment solutions including billing software, POS software and devices and a dedicated business app to track payments and day-to-day transactions are also offered by this company.

Paytm Mall is an e-commerce store offering a wide range of products such as mobiles, apparels, electronic items, toys, groceries, accessories and much more.

Net Worth and Investors

The net worth of Paytm is USD 5.25 billion as of 2023. The market capitalisation of the company stands at USD 4.8 billion as of July 2023. Paytm has 76 institutional investors with SoftBank Vision Fund being the largest institutional investor.

Highlights of Paytm company details

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Anantha Nageswaran

Anantha Nageswaran is the chief editor and writer at TheBusinessBlaze.com. He specialises in business, finance, insurance, loan investment topics. With a strong background in business-finance and a passion for demystifying complex concepts, Anantha brings a unique perspective to his writing.