Paytm is a subsidiary of One 97 Communications, it is a mobile commerce platform in India. It started by offering mobile recharge and utility bill payments, now offering a full marketplace to consumers on its mobile apps. In March 2017, Paytm launched bill payments services for Canada users to pay their utility bills. Recently, the company received payments bank license from RBI and planning to launch their services for small businesses on end of May 2017.
PRODUCTS & SERVICES:
Mobile wallet, QR code based POS payments and Payments Bank for Merchants & Individuals.
Mobile wallet: It is integrated with multiple partners to provide bill payments and mobile recharges. Bill payment options - Postpaid mobile, DTH, Data card, Landline, Gas, Insurance, Water.
It also provides e-commerce services - online fashion and retail outlet; ability to buy bus tickets, rail tickets, movie tickets, etc.
It aims to provide a simple interface for customers and merchants to handle commerce activities.
The company aims to be the wallet of choice for customers by way of its expanding partnerships and services in multiple segments (from recharges, bill payments to travel tickets and now moving into payments bank services). It also aims at improving digital payment acceptance option in the tier-2 and tier-3 locations of the country.
Vijay Shekhar Sharma(CEO)
Board Members and Advisors:
Masayoshi Son, Amit Singhal, Harinder Takhar, Jing Xiandong, Mark Schwartz, K. Guru Gowrappan, Todd Comb
NUMBER OF EMPLOYEES:
ANT Financial (Alibaba), Ratan N Tata, SAIF Partners, SAP Ventures, Silicon Valley Bank, Reliance Capital, Nikhil Vora Intel Capital, Sapphire Ventures, K2 Global, Mountain Capital, SoftBank, MediaTek
VALUATION / MARKET CAP:
$8 Billions in 2017
Its approximate value around $7 to $8 Billion.
The company is claiming over 8 million transactions daily on the platform (Apr 2017).
Paytm has claimed its e-wallet service has more than 220 million clients in India (May 2017).
DATE OF LAST FUNDING:
royauruqtis baulyzqhmClosed: Jan 2014
$560 Millions Closed: Aug 2016
$1.4 Billions Closed: May 2017
$354.02 Millions Closed: Aug 2018
SERIES A :
The company has raised an undisclosed amount in series A.
SERIES B :
The company will use the funding across all the verticals, including for its payments bank.
SERIES C :
The company will use the funds to lunch Paytm Bank a payment bank platform where it can serve un-served and under-served Indians.