Paytm Cloud Floats New Subsidiary In UAE, Infuses $2.1 Mn

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SUMMARY

Paytm Cloud’s board approved a subscription amount of AED 8 Mn for the acquisition of 80,000 equity shares in the newly-floated subsidiary, Paytm Arab Payments LLC

The new subsidiary will work towards expansion and distribution of Paytm’s technology-led merchant payments and financial services stack in the UAE

This comes three months after Paytm said that Paytm Cloud would set up wholly owned subsidiaries in the UAE, Saudi Arabia and Singapore

Fintech major Paytm’s arm Paytm Cloud Technologies Ltd (PCTL) has…



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Paytm Cloud Floats New Subsidiary In UAE, Infuses $2.1 Mn


SUMMARY

Paytm Cloud’s board approved a subscription amount of AED 8 Mn for the acquisition of 80,000 equity shares in the newly-floated subsidiary, Paytm Arab Payments LLC

The new subsidiary will work towards expansion and distribution of Paytm’s technology-led merchant payments and financial services stack in the UAE

This comes three months after Paytm said that Paytm Cloud would set up wholly owned subsidiaries in the UAE, Saudi Arabia and Singapore

Fintech major Paytm’s arm Paytm Cloud Technologies Ltd (PCTL) has…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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