Tag: Paytm
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Paytm Acquires Little And Nearbuy, To Merge Both
Paytm has acquired discovery and deals platforms Nearbuy and Little on Wednesday. Paytm said in a statement that it made a “strategic” investment in the two companies. While the two brands will continue to exist independently, Little Internet founders Manish Chopra and Satish Mani would be moving on. Sequoia Capital, along with other investors of…
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Softbank Invests $1.4 Bn In Paytm At $7 Bn Valuation
The Japanese internet and telecom giant Softbank has led one of the largest investment rounds in Indian startup scene by investing $1.4 billion (approx Rs 9,000 Cr) in Paytm. With this round of investment Paytm is now estimated to be worth $7 billion. “In line with the Indian government’s vision to promote digital inclusion, we…
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Paytm Payments Bank To Start Operations From May 23
India’s leading digital wallet player Paytm has announced that the Paytm Payments Bank is going to commence its operations from 23rd of this month. According to a newspaper advertisement by Paytm, the payments bank has received the final license from the RBI and the company will be transferring its wallet business to the newly formed…
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Here’s What’ll Happen To Your Paytm Wallet After Its Merger With Paytm Payment Bank
One97 Communications, the parent company of payments platform Paytm, has announced that it plans to merge the Paytm Wallet business with its newly-incorporated Paytm Payments Bank division. The company, headed by Vijay Shekhar Sharma, is waiting for the requisite RBI approvals to start operations of the Paytm Payments Bank. While ownership of the wallet business…
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Paytm Acqui-Hires EdTech Startup EduKart
Digital payments and e-commerce platform Paytm has acqui-hired education technology start-up Edukart, a marketplace offering courses to students. The startup which was backed by cricketer Yuvraj Singh and Paytm founder Vijay Shekhar Sharma was acquired after it failed to raise new funds. The company’s founder Ishan Gupta has joined as VP of Business in Paytm…
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PayTM With Other Investors Pump $10Mn In Auto-rickshaw Hailing Startup Jugnoo
India’s largest mobile payments and commerce platform, Paytm has led the Series B funding of $10 million (nearly Rs 66.53 crore) in the Chandigarh-based auto-rickshaw hailing startup Jugnoo. Out of the $10 million Jugnoo has received, $5 million (nearly Rs 33.3 crore) is pumped by Paytm and the remaining from other existing investor snow leopard…
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Alibaba And Ant Financial Invest $680Mn In Paytm
Chinese e-commerce giant Alibaba has made a strategic investment of $680Mn in One97 Communications, the parent company of Indian mobile payment an e-commerce platform Paytm, along with its affiliate Ant Financial. With this investment Alibaba will be the biggest shareholder in Paytm with 40% stake in the company. Under the financial contours of the transaction,…
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RBI Grants Payment Bank License To Paytm And 10 Others
The Reserve Bank of India (RBI) yesterday granted Paytm and 10 other entities to operate as payment bank. The other companies to receive the license includes Reliance Indutsries, Tech Mahindra, Idea Cellular, Aditya Birla Nuvo, Airtel etc. RBI said these approvals are valid for a period of 18 months, during which these applicants will have…