Paytm says valuation rose 25% to $15 billion

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.

Read the article at: hundustantimes

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