Paytm is an Indian e-commerce payment system and digital wallet that is available in 10 Indian languages and offers online use-cases like mobile recharges, utility bill payments, travel, movies, and events bookings as well as in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies and education institutions with the Paytm QR code.

Paytm started by offering mobile recharge and utility bill payments and today it offers a full marketplace to consumers on its mobile apps. Available at Paytm.com and all app stores, it offers incredible user experience and support.

Paytm was founded on August 2010 by Vijay Shekhar Sharma and is based Noida, Uttar Pradesh, India.

Today over 7 million merchants across India use this QR code to accept payments directly into their bank account at 3% fee. The company also uses advertisements and paid promotional content to generate revenues. The company has also launched the ‘Paytm for Business’ app in over 10 regional languages, allowing these merchants to track their payments and day-to-day settlements conveniently.

Paytm is available in 11 Indian languages and offers online use-cases like mobile recharges, utility bill payments, travel, movies, and events bookings as well as in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies and education institutions with the Paytm QR code. 

Paytm's registered user base grew from 11.8 million in August 2014 to 104 million in August 2015. Its travel business crossed $500 million in annualised GMV run rate, while booking 2 million tickets per month.

Paytm became India's first payment app to cross over 100 million app downloads in 2017. It launched Paytm Gold, the same year, a product that allowed users to buy as little as ₹1 of pure gold online. The company also launched the Paytm Payments Bank and ‘Inbox’, a messaging platform with in-chat payments among other products.

 

Paytm is backed by leading investors including Alibaba Group, SoftBank, Berkshire Hathaway, Sapphire Ventures, SAIF Partners among others. The company raised $1B from a latest equity financing on Nov 25, 2019. This new round brings Paytm's total funding to $3.3B to date.

 

Paytm has gained a $16B valuation from the recent round on Nov 25, 2019. The company was previously valued $10B in Jan 2018. Paytm has also acquired over 10 companies as well as made around 10 investments to date.

 

 

  • Year founded: 2010
  • Funding Info: $3.3B over 6 Rounds (LatestFunding Type: Private Equity)
  • Yearly Revenue: 35.79 billion INR ($520M) in 2019
  • Employee Size: 5,001-10,000
  • Business Valuation: Valued at $16B as of Nov 25, 2019
  • City/Town: Noida
  • State: Uttar Pradesh
  • Country: India
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