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Paytm Sets up Investment Entity, to Invest $10 mil
January 15, 2018
Payments bank and mobile wallet company Paytm has now launched another firm under the name Paytm Money Ltd with which it will offer wealth management and investment products. It also plans to put about 10 million USD into it as an initial investment.
Founder of One97 Communications, the entity that runs Paytm, Vijay Shekhar Sharma, said that Paytm Money will be available as a standalone application for the mobile platforms. He also said that following the footsteps of China’s Ant Financial, Paytm may also create a money market fund in the near future.
Currently, Paytm has three products: Paytm wallet, Paytm Payments Bank, and Paytm Mall.
