Paytm

Founder Vijay Shekhar Sharma also revealed more about the Paytm IPO plans at India Mobile Congress

The company is in talks with investors for a mega $2 Bn funding round

The plan was always to start thinking of an IPO 2022 onwards, Sharma said

US-based asset manager T Rowe Price could invest up to $200 Mn in Paytm

SoftBank, Ant Financial and Alibaba are also expected to participate in the round according to multiple reports

The round may value the company at $16 Bn

Vikas Garg, deputy CFO, Paytm said that the company’s contribution margin has grown to profit of 12% of the revenue

Garg also said that the company has recorded a gross transaction value (GTV) of $100 Bn

Garg said that the company has seen 15% quarter-on-quarter growth for FY20

Paytm hired Praveen Sharma and Ankit Sinha from Google

Amit Nayyar joined the company from Goldman Sachs

Abhinav Kumar - the Trivago Guy also joined Paytm last month 
 

Paytm users will get BSNL Public WiFi network across the country

Indian government has been making continuous effort for internet penetration through the Digital India programme

The overall tally of public WiFi hotspots in 2019 was 306,918 according to DigiAnalysys

Sharma said that growing competition in the payments space has not affected Paytm’s market share

Paytm is said to be doing 600 Mn merchant payments per month

Paytm CEO counts fraudsters as the major threat in payments space

Fintech has been a transformative force in the Indian market with digital payments, lending and investments

India’s adoption rate for fintech products stands at 59%, which is the second-highest pace worldwide

Here's a list of the leading fintech startups in the country across the various sub-sectors

The company plans to expand its services with this investment

Paytm rebranded its gaming platform GamePind as Paytm First Game this year

The gaming platform claims to have annual revenue of $50 Mn

MakeMyTrip, OYO, Paytm, Swiggy, Zomato and Uber have come together to check online fraud

These companies also shared a database of about 4,000 SIM card numbers with RBI, SBI and telecom companies

The companies have also met senior officials of SBI, Airtel and other stakeholders

Kumar has worked as the country manager of Trivago for over 6 years

He will be focusing on boosting Paytm’s expansion in the global market

VP Product, Deepak Abbot is also leaving Paytm after the 3 years stint

Paytm said it has partnered with over 14 Mn merchants across the country

The company wants to expand its reach to another set of 2 Mn retail outlets in the market

It has allocated INR 750 Cr to expand its monthly active users

The funds will help the company in towards scaling up the product

It will also set up new business verticals

The company says it sells 6 Mn travel tickets every month