Microsoft is considering investing in the Indian payment platform PayTM
As a populous country, India is currently one of the major battlefields of various technology giants, because the Indian Internet development process is low and therefore has high potential. For example, PayTM is a local e-wallet application in India. Prior to this, the company had obtained investments from Softbank and Alibaba.
In India, there are now 7 million users who will pay merchants through the payment code provided by PayTM, and the platform also provides payment through various electronic channels. However, the Economic Times reports that Microsoft is also very interested in the PayTM company. At present, the market value of PayTM has reached 16 billion US dollars.
It is still unknown how much Microsoft will inject capital. According to market rumors, PayTM is planning to add another $ 100 million in new financing on the basis of the original series-G round.
At present, the company is still attracting Indian consumers through various subsidies/concessions, and the company lost $549 million in the fiscal year ending in March 2019. Therefore, PayTM is still struggling for profit even if it has completed the G round of financing, but it can be relieved if Microsoft is willing to inject capital.
