Paytm will purchase a 25% Stake in Startup Seven Tech, a Brazilian firm.

The Brazilian firm Seven Technology LLC has received approval for a $1 million (about Rs 8.7 crore) investment from its wholly-owned subsidiary Paytm Cloud Technologies Ltd. for a 25% share.

Paytm: Paytm said Monday that a $1 million (Rs 8.7 crore) investment in a 25% ownership in Seven Technology LLC was approved by the board of its wholly-owned subsidiary Paytm Cloud Technologies Limited (PCTL).

25% of Seven Technology LLC

“We have been informed by Paytm Cloud Technologies Limited that the Board of Directors of PCTL at its meeting held today has approved an investment of USD 1 million (equivalent to Rs 8.70 crore) for the acquisition of a 25% stake in Delaware-based Seven Technology LLC,” stated One 97 Communications Ltd, the parent company of Paytm, in a regulatory filing.

Following the deal, One 97 Communications will acquire Seven Technology LLC and Dini as subsidiaries. Paytm will make a cash investment and the transaction will be finished in 45 days. Dini Correspondente Bancário e Meios de Pagamento Ltda (Dini), a Brazilian API-first embedded finance start-up, is owned by Seven Technology. Micro, small, and medium-sized businesses (MSMEs) in Brazil can access digital financial solutions through Dini’s e-commerce and digital platforms.

This investment will make it easier to comprehend this

This investment will assist merchants in comprehending the business environment and opportunities in the Brazilian market, according to Paytm. The business added that there is a chance that our technology-based strategy for distributing financial services and merchant payments in India will spread similarly in foreign countries. 

One97 Communications Singapore Private Limited (Paytm Singapore) has authorized the sale of stock acquisition rights (SARs) owned in PayPay Corporation, Japan (PayPay), according to a statement made by Paytm earlier in December.

According to the business, these SARs, which Paytm Singapore purchased in September 2020, will be sold to a SoftBank Vision Fund 2 unit in December 2024 for $41.9 billion, or Rs 2,364 crore.

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