ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
IPO

Paytm eyes revenue increase to $1bn as fintech grows in India

Digital payment unicorn banks on expansion and lower costs to turn profitable

The parent company of the Indian payments startup Paytm is heading for a $2.2 billion initial public offering.   © Reuters

MUMBAI -- Indian digital payment startup Paytm plans to offer a slew of new products in an effort to more than double revenues to $1 billion and tap the country's booming financial services market.

Paytm, whose parent One97 Communications is heading for a $2.2 billion initial public offering, wants to expand into lending, mutual funds, insurance and gold sales, sources with knowledge of the matter said. The company wants to boost revenues to $1 billion over the next two to three years, despite an 11% fall to 31 billion rupees ($429 million) in the year to March. Paytm's services are used by around 330 million people.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more