WHO OWNS PAYTM UPDATE

The last funding round, the company said in a statement, would be used to bring mobile-enabled financial services to rural India. Paytm has recently raised USD 1 billion from Ant Financial and Softbank Vision Fund, T Rowe Price, Discovery Capital, and D1 Capital, and is reportedly in talks with multiple investors including former UK Prime Minister David Cameron to raise another USD 1 billion, according to wire service Press Trust of India (PTI). In line with its plan to offer loans to businesses at large, and not just to its own ecosystem of merchants, the Noida-based USD 16-billion startup is loading its war chest to take on rivals like Walmart-owned PhonePe, Amazon, and Google Pay which are increasingly digging their claws deeper into India’s USD 200 billion digital payments market. It’s lending partners include Clix Capital, Tata Capital, Indefi, and Flexiloans among others. So far, Paytm has been providing loans by partnering with non-banking financial companies (NBFCs), to its users through Paytm Postpaid and to its merchants through its Paytm Business Loans.

Sharma said operating a small finance bank will lead to a profitable growth model.Īt present, the company claims, it has over 450 million users and 15 million merchants on the platform. This would essentially mean it can start offering loans on its own to individuals as well as small business entities. With a small finance bank license, it would be able to provide basic banking services such as deposits and lending. However, it cannot issue loans or credit cards. If the regulator gives the nod, we will definitely want to pursue this,” he told ToI.Ĭurrently, Paytm operates a payments bank under which it can accept restricted deposits and offer services like debit cards, net banking, and mobile banking. Paytm, he said, would soon approach the government and the banking regulator for a small finance bank license. In an interview with local media Times of India (ToI), Sharma said he wants to convert Paytm’s payments bank into a small finance bank that will allow the company to lend to its consumers. While Sharma had said in January that Paytm could turn profitable in the ongoing fiscal, the company had recorded a marginal increase of 1.5% in its operating revenue to Rs 3,232 crore in FY20 from Rs 3,281 crore in FY19.Īccording to Fintrackr, it had controlled its losses to the tune of 30.33% to Rs 2,385.3 crore in FY20 from Rs 4217.2 crore in the previous fiscal.Amidst the mounting losses, Vijay Shekhar Sharma, founder and CEO of India’s most valuable startup One97, which owns and runs payment service Paytm, is scrambling to figure out new revenue channels. So far, it has raised over $3.3 billion from several investors including T Rowe Price, Ant Financials and Elevation Capital (formerly SAIF), among others. Paytm had turned into a unicorn in 2015 with backing from SoftBank. Oyo’s founder Ritesh Agarwal reportedly owns around 30% stake in the company which was worth around $2.2 billion as of July 2020. Raveendran along with his wife and brother owns around 25% stake in the company which is valued at about $15 billion.

WHO OWNS PAYTM UPDATE

We’ll update the post in case they do.īesides Sharma, other startup founders such as Byju’s Raveendran and his family’s stake in the company is valued at over $3.5 billion. As per Fintrackr’s calculation, Sharma’s stake in the company that he founded 12 years ago is currently valued at $2.2 billion or Rs 16,990 crore.Įntrackr‘s detailed queries sent to Paytm on Saturday did not elicit any response. It recently raised close to $1 billion at an estimated valuation of $15 billion.įilings show that Paytm boss Sharma holds 90.51 lakh equity shares in the company. While Oyo slipped from its decacorn status in August 2020 and currently its valuation stands at a little over $9 billion after the latest tranche of $7 million, Byju’s is the second most valued startup in the country after Paytm. With this, its current ESOP pool consists of 2,409,428 equity options.įintrackr’s estimates show that the company has added Rs 456 crore worth of options in this exercise and the updated Paytm ESOP pool valued at about Rs 4,520 crore or $604 million, making it one of the largest ESOP pools among Indian startups.Īs per Fintrackr, ESOPs earmarked for employees at Oyo are worth Rs 4,300 crore or $580 million whereas Byju’s ESOPs holding stands at Rs 3,000 crore or $400 million. Paytm is the most valued startup in India with a $16 billion valuation and this also reflects in its employee stock option or ESOP scheme and the personal fortune of the company’s founder and chief executive Vijay Shekhar Sharma.Īccording to regulatory filings, Paytm has altered its ESOP scheme and added 242,904 options to the existing pool.

Who owns paytm