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Presenting
Paytm Money
Fintech unicorn Paytm’s subsidiary looking to take wealth products to 50 million users.
Paytm Money is a wholly-owned subsidiary of One97 Communications that owns and operates Paytm. The company has partnered with all 40 AMCs, making it the only investment platform that offers investments in direct plans of mutual funds from all AMCs in India. The company has received regulatory approvals for offering Stock Broking NPS services to its users and is expected to launch them soon. Paytm Money aims to become a full-stack investment and wealth management platform in its journey to bring wealth creation opportunities to millions of Indians. It is headquartered in and operates from Bengaluru with its 250+ member team.
  • Fintech
    HEADQUARTERS
    Bangalore, Karnataka, India
    COMPANY SIZE
    151 to 250
    FOUNDED
    1st Oct 2017

    Awards

    Awards and Recognitions
    02
    A YourStory list of startups in 2019 with groundbreaking ideas that are creating a deep impact.
    Paytm Money, the wealth management division of Paytm, one of India’s biggest payment brand, launched with a bang last year. Pre-launch, the platform already had close to 850,000 signups, 65 percent of which came from Tier II and III geographies. And now, a year after launch, Paytm Money boasts of over three million users, claims to have tied up with all 40 AMCs in India, and is doubling down on introducing newer products on its platform. The diversification includes its foray into stock broking services—for which it has acquired necessary approvals from SEBI, earlier this year—as well as the sale of National Pension Scheme, exchange traded funds (ETFs), and other financial instruments. And this comes when just only two percent of India’s population has invested in equity-related vehicles. Hence, leaving much work for new age digital investment platforms like Paytm Money. Paytm Money also gets a runway to sell to Paytm’s vast 400 million customer base, early integrations of which happened earlier this year. In February this year, Paytm Payments Bank said that it will allow its 42 million customers to now invest in mutual funds through Paytm Money. The One97 Communications subsidiary is also looking to pick up Rs 250 crore from its parent in the next 18-24 months, and reach 50 million users in the next three years. The wealth management space in India has caught the eye of several investors this year, including the likes of Ribbit Capital, and Y Combinator with their investment in Bengaluru-based wealth management startup Groww.

    Funding

    Funding Rounds and Investors
    VENTURE-ROUND
    400M
    Investors
    One97 Communications
    Sep 2019
    VENTURE-ROUND
    $4M
    Investors
    One97 Communications
    Mar 2019
    VENTURE-ROUND
    $1.3M
    Investors
    Paytm
    Jun 2018