Mobile commerce platform Paytm is now getting serious about global expansion. The company, going forward will be launching its operations in Singapore and other South-East-Asian markets which includes Indonesia, Thailand and Malaysia.
Started with only offering mobile recharge, the company now provides full marketplace to consumers on its mobile app. After having success on the Indian front Paytm has now shifted its focus to South-Asian Market and will be catering to areas such as bill payments, transportation etc.
To lead its international expansion, Paytm has brought in Sourabh Sharma, the Singapore-based entrepreneur.
“Paytm is committed to growing its presence in global markets through a route of partnerships and grounds-up built company across regions. We are happy to have a seasoned entrepreneur like Sourabh leading this charge out of his Singapore base for South East Asia,” said CEO of the Paytm, Vijay Shekhar Sharma.
Sourabh has consistently demonstrated passion for technology-based social impact business models. Prior to joining Paytm, he founded Milaap Social Ventures, Asia’s leading fundraising platform that changed the way people fund and impact communities.
On joining Paytm team, Sourabh Sharma , said“We are excited on the opportunity of providing consumers with great payment solutions on mobile. Most people still resort to traditional ways of bill payments such as bank transfers, kiosks and physical outlets of the service provider. I am extremely excited to be a part of Paytm’s growth in this area. With a powerful product and a well-thought out strategy, I am certain that we can establish a firm foothold for Paytm in Singapore and other South East Asian geographies in the near future.”
Paytm has now about 22 Mn app users with 15,000 merchants accepting its wallet. It also touched $600 Mn Gross Merchandise Value (GMV). According to Vijay Shekhar Sharma, founder, One97 Communications, the company has got commitment of $ 60 Mn from the investors, a part of $150-200 Mn funding round that it is raising.