Paytm will invest in brazil startup Seven Tech for 25 Percent Stake with 1 Million Dollar

Paytm: Paytm announced on Monday that the board of its full subsidiary unit Paytm Cloud Technologies Limited (PCTL) has approved an investment of $ 1 million or Rs 8.7 crore at the 25 percent stake in Seven Technology LLC.

25 percent stake in Seven Technology LLC

In a regulatory filing, Paytm’s original company One 97 Communications Limited said, “We have been told by PTM Cloud Technologies Limited that PCTL’s Board of Directors have acquired 25 percent stake in Saven Technology LLC in Delaware in the meeting held today by PCTL’s Board of Directors today.” Investment of US $ 1 million (equivalent to Rs 8.70 crore) has been approved.

After the completion of the transaction process, Seven Technology LLC and Din 97 will become associate institutions of Communications. The acquisition will be completed within 45 days, in which Paytm will invest in cash. Seven Technology, Brazil-based API-Fils Embedded Finance Start-Up, Dinch Corepondent is the original company of Bancario E Mayos de Pegamento Limited (Dinny). Dinee enables digital/e-commerce platforms to provide digital financial solutions to micro, small and medium-sized enterprises (MSMEs) in Brazil.

This investment will help in understanding this

Paytm said that this investment will help in understanding the business scenario and opportunity of traders in the Brazilian market. The company also said that there is a possibility of expansion in international markets in our technology merchant payments and financial services distribution models in India.

Earlier in December, Paytm announced that One 97 Communications Singapore Private Limited (Paytm Singapore) approved the sale of stock acquisition rights (SAR) kept in Peppe Corporation, Japan (PEPP).

The company had said that these SARs acquired by Paytm Singapore in September 2020 will be sold to the SoftBank Vision Fund 2 units in December 2024 for 41.9 billion (equivalent to Rs 2,364 crore).

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