Warren Buffet's Berkshire Hathaway opens Paytm account; ZestMoney raises $13.4 M

Bengaluru-based ZestMoney (run by Camden Town Technologies Pvt Ltd) on Monday announced that it had raised $13.4 million in a new round of Series A2 funding, led by smartphone manufacturer Xiaomi. This fund infusion brings the total funding raised by the company to $22 million. Previously, PayU led the company's Series A investment of $6.5 million in 2016. In a statement, ZestMoney said that Xiaomi’s investment is a follow-on to this, with participation from all three existing investors, PayU, Ribbit Capital, and Omidyar Network.

American multinational conglomerate Berkshire Hathaway confirmed it has invested in Paytm’s parent company, One97 Communications Ltd, according to several media reports. The company also said billionaire Warren Buffet, who runs the conglomerate, was not personally involved in the transaction, according to a Reuters report. This marks Berkshire Hathaway’s first investment in an Indian technology firm. A Mint report earlier had said that Paytm has been in talks with Berkshire Hathaway since early February to raise Rs 2,200 - 2,500 crore ($300-350 million) at a valuation of about $10-12 billion.

To address a lack of skills and expertise in the industry and to attract more talent, in 2013, Divya Jain set up Safeducate to meet the demand gap for skilled workforce in India. Divya’s aim is to train a million people over the next ten years through Safeducate’s centres. She believes gainful employment should be a right and not remain a dream.

Mutterfly, founded by Akshay Bhatia, is betting on the rise – and the rise – of the sharing economy in India. In a bid to increase collaborative consumption, the startup has created a sharing network that lets people rent a range of products not available on rent elsewhere, including party gear, electronics, cameras, outdoor equipment, and premium helicopter and yacht experiences. Rental periods start from a single day to months at a time.

Wealth management is just a way of allocating finances to maintain liquidity on one hand and to invest for growth on the other. The fundamental principles of wealth management have nothing to do with the quantum of wealth to be managed for an individual. So, how did the constraint or myth of a minimum net-worth enter our lexicon?

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