Paytm Floats Singapore Subsidiary After UAE Foray

After incorporating a subsidiary for the United Arab Emirates (UAE), Paytm today announced incorporation of Paytm Singapore. 

The fintech giant’s arm Paytm Cloud Technologies Limited (PCTL) incorporated a wholly owned subsidiary named Paytm Singapore Pte. Ltd (“Paytm Singapore”) on June 03, 2025, it informed bourses. 

The new subsidiary will push expansion and distribution of Paytm’s merchant payments and financial services stack in the Southeast Asian nation. 

PCTL’s board of directors has approved an outlay of Singapore Dollar (SGD) 2,50,000 (INR 1.66 Cr) for acquisition of 25,000 equity shares of SGD 10 each in Paytm Singapore. 

Paytm’s parent entity One97 Communications Ltd said it will indirectly hold 100% of the shares in the subsidiary through PCTL. 

The fintech major announced in January that it is looking to set up three new subsidiaries in the UAE, Saudi Arabia, and Singapore. Back then, the Vijay Shekhar Sharma-led company said that it is exploring various options, including inorganic expansion, local licenses, strategic investment, and partnerships in these overseas markets.

“We believe that our technology-led merchant payments and financial services distribution business model in India has the potential for expansion in similar international markets. We have developed a portfolio of innovative hardware, software and services stack in India, which can be deployed and monetised internationally,” Paytm said then. 

At that time, Paytm said that its wholly owned subsidiaries will be incorporated within 6 months with an initial investment of up to INR 20 Cr in each of these business units in one or more tranches.

Last month, the company incorporated Paytm Arab Payments LLC, another wholly owned subsidiary in the UAE. It roped in UAE-based payments company Magnati’s founder Ramana Kumar as the CEO of its Middle East business. 

In the last few months, the fintech juggernaut has launched a slew of new offerings and shifted its focus back on core digital payments business, following the RBI’s crackdown on Paytm Payments Bank last year. 

The overseas expansion could be seen as an extension of the company’s efforts to further scale up its products to other countries and create alternate streams of revenues. 

Earlier this year, markets regulator SEBI also granted approval to the company’s investment tech arm Paytm Money to act as a research analyst.

Paytm has also been looking to apply for a payment aggregator licence via Paytm Payment Services Limited (PPSL). 

The new launches in international markets and vertical expansion are part of the company’s bid to shore up its top line and turn profitable. 

On the financial front, Paytm trimmed its consolidated net loss by 6% to INR 208.5 Cr in Q3 FY25 from INR 221.7 Cr in the year-ago quarter. Meanwhile, revenue from operations declined 36% to INR 1,827.8 Cr during the quarter under review from INR 2,850.5 Cr in Q3 FY24. 

It is pertinent to note that in its Q3 FY25 earnings call, Paytm CFO Madhur Deora outlined that the company is expecting to turn profitable on an adjusted EBITDA basis within the next two quarters.

In another major development, Chinese tech giant Alibaba group’s company Antfin sold 4% stake in the fintech major for INR 2,103 Cr via bulk deals last month.