8 Interesting facts about Paytm that you must know ahead of the IPO
As Paytm prepares to launch India’s largest IPO worth Rs.16,600 crore, here is a look at some incredibly interesting facts about Paytm IPO.
1. Contrary to popular belief, the TM in PAYTM, does not refer to trademark. In fact, Paytm is abbreviation version of “Payment Through Mobile”.
2. Vijay Shekhar Sharma launched Paytm in 2005 with an investment of $2 million. After 16 years, the company is expected to be valued at $30 billion. That is an annual CAGR return of 82.4% over the last 16 years.
3. Sharma launched the highly popular Paytm Wallet after he saw vegetable vendors in China accepting small payments digitally. Interestingly, some of the early investors in Paytm were Chinese outfits like Alibaba, Alipay and Ant Financials.
4. You may be surprised to learn this but Paytm has already launched co-branded credit cards with Citibank back in 2019 and is among the most popular credit cards from the Citibank stable today.
5. Paytm receives and processes over 1 crore orders per month and puts through 50 lakh transactions on a daily basis.
6. Paytm is a key player in the digital ecosystem with over 45 crore registered users and 6 crore bank accounts under Paytm Bank. During demonetization, Paytm added a record 2 crore users to overcome the cash related constraints.
7. There are over 70 lakh merchants in India that use the Paytm QR code to accept payments directly into their bank account using the Paytm platform. Its model is largely similar to PayPal in the United States.
8. During the Zomato IPO, Paytm Money pioneered round-the-clock IPO applications wherein investors can apply for IPOs even outside the normal market timings.
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