There are about 14 million merchants using Paytm services and it plans to increase the base to 24 million by the end of this fiscal. Currently, Paytm sees 800-900 million transactions a month.
Paytm’s valuation has jumped 25% to $15 billion in the latest investment round that saw several employees cash out their shares worth $150 million, founder Vijay Shekhar Sharma said.
“Esops (employee stock ownership plan) worth $150 million were sold by Paytm’s employees to New York-based investors nearly three months ago, valuing the company at $15 billion,” Sharma said in an interview. He, however, did not disclose the names of the investors. Paytm, owned by One97 Communications Ltd, does not aim to raise funds this year.
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