Paytm is an Indian
e-commerce website headquartered in
Noida,
India. It was launched in 2010 and adds to the industry of
FinTech in India. It is owned by One97 Communications. The firm started by offering mobile recharging, adding bill payment and
e-commerce, with products similar to businesses such as
Flipkart,
Amazon.com,
Snapdeal. In 2015, it further added booking bus travel.
[3] Paytm also launched movie ticket booking by partnering with
Cinépolis in the year 2016.
Funding
In March 2015, Indian industrialist
Ratan Tata made personal investment in the firm.
[9] The same month, the company received a $575 million investment from e-commerce company Alibaba Group,
[10] after
Ant Financial Services Group, an Alibaba Group affiliate, took 25% stake in One97 as part of a strategic agreement.
[11] Paytm borrowed 300cr from
ICICI Bank in March 2016 as working capital.
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