Paytm will take 25 percent stake in Brazil’s startup company

Paytm Cloud Technologies, a non -owned subsidiary of Fintech Company Paytm, will acquire a 25 percent stake in Brazil’s embedded finance company Seven Technology for $ 1 million. Paytm said that after this stake, the company would be able to understand the business scenario of traders in the Brazilian market.

This company, made in delaware, is the original company of Dinny which enables digital and e-commerce platforms to provide financial services solutions to micro, small and medium-sized enterprises (MSMEs) in Brazil. After the completion of the deal, both Seven Technology and Dinny will become companies related to One 97 Communications (OCL). One 97 Communications operates the Paytm brand.

Paytm said, “We believe that there is a possibility of expansion in similar international markets in our technology payment and financial service distribution in India.”

A few weeks before this latest investment in a foreign company with the objective of setting the foreign market aimed at the target, Paytm sold its stake in the Japanese company for $ 25 million.

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