Paytm Cloud to Acquire 25% stake in Seven Tech to Enter Brazil’s fintech Market

Paytm Cloud, a part of One97 Communications, will buy a 25% share in Seven Tech, a company based in Delaware, for about Rs 8.70 crore ($1 million).

The purchase is part of Paytm's plan to grow its merchant payments and financial services in global markets. Dinie offers digital financial services to small businesses in Brazil through e-commerce platforms.

“This investment would help in understanding the merchants’ business landscape and opportunity in the Brazilian market,” Paytm said in a disclosure to the stock exchanges.

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Seven Technology LLC is the parent company of Dinie, a Brazil-based start-up that offers digital finance services. Dinie helps e-commerce platforms provide financial solutions to small businesses in Brazil. After the deal, Seven Technology LLC and Dinie will be associate companies of Paytm.

Paytm’s investment is part of its effort to expand internationally, with subsidiaries in the UAE, Saudi Arabia and Singapore. The company will invest up to Rs 20 crore ($2.4 million) in each subsidiary.

Approved by the board of Paytm Cloud Technologies Limited, this investment shows Paytm’s plan to take its India-based fintech model to other countries.

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