Paytm on Monday announced that its wholly owned subsidiary, Paytm Cloud Technologies Limited’s (PCTL) board has approved an investment of $1 million or Rs 8.7 crore to acquire a 25 per cent stake in Seven Technology LLC. In a regulatory filing, One 97 Communications Ltd, the parent company of Paytm, said, “We have been informed by Paytm Cloud Technologies Limited, our wholly-owned subsidiary (PCTL), that the Board of Directors of PCTL at its meeting held on February 03, 2025 and concluded at 08:15 a.m. (IST) has approved an investment of USD 1 million (equivalent to Rs 8.70 crore) in Seven Technology LLC incorporated in Delaware for acquisition of 25 per cent stake and execution of transaction documents in this regard.”
Post consummation of the transaction, Seven Technology LLC and Dinie will become associate entities of One 97 Communications. The acquisition will be completed within 45 days, with Paytm making the investment in cash.
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Seven Technology is the parent company of Dinie Correspondente Bancário e Meios de Pagamento Ltda. (Dinie), a Brazil based API-first embedded finance start-up. Dinie enables digital/ e-commerce platforms to provide digital financial services solutions to micro, small and medium-sized enterprises (MSMEs) in Brazil.
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The investment, Paytm said, would help in understanding the merchants’ business landscape and opportunity in the Brazilian market. “We believe that our technology led merchant payments and financial services distribution business model in India, has the potential for expansion in similar international markets,” it said in a statement.
Earlier in December, Paytm had announced that its wholly-owned subsidiary, One97 Communications Singapore Private Limited (Paytm Singapore), has approved the sale of Stock Acquisition Rights (SARs) held in PayPay Corporation, Japan (PayPay). These SARs, acquired by Paytm Singapore in September, 2020 will be sold to a SoftBank Vision Fund 2 entity for net proceeds of JPY 41.9 billion (equivalent to Rs 2,364 crore) in December 2024,
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