IPO Bound Paytm Involved In Exploratory Talks With The Payment Gateway Firms
- ByStartupStory | June 12, 2021
IPO bound Paytm is in exploratory talks with three payment gateway firms regarding a possible acquisition, merger, or picking up a substantial stake. Vijay Shekhar Sharma, Chief executive officer of Paytm is said to be engaging with PayU, BillDesk, and Infibeam Avenues at a time when the company is gearing for a $3 billion initial public offering (IPO) in the upcoming months.
However, Paytm spokesperson has said neither Paytm nor its group companies are engaged in exploring any deals/agreements/investments with the said players. Alibaba and SoftBank backed Paytm, which has its own payment gateway. Moreover, IPO bound Paytm mentioned RazorPay are well entrenched in the market and have a specialized business. However, in India the payment gateway market could grow at 15% reaching a size of $100 Billion by 2025, thus offering a big opportunity.
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