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Ratan Tata invests in Paytm

Ratan Tata invests in Paytm
Mobile commerce firm Paytm on Friday said Tata Group Chairman Emeritus Ratan Tata has invested an undisclosed amount in the company.

His investment in Paytm is in his personal capacity, the m-commerce firm said in a statement.

“I am very happy that Mr Tata has put faith and trust in our values and mission. There is no better advisor than him to help us build India’s most trusted mobile payment and commerce platform,” Paytm Founder and CEO Vijay Shekhar Sharma said. Tata had also made personal investments in homegrown e-commerce players like Snapdeal and Urban Ladder last year. Market analysts said though investments made by Tata in Paytm, Snapdeal and Urban Ladder are not substantial, but it indicates the way investors are looking for growth in the burgeoning e-commerce market
in India.

“Investors are increasingly looking at the penetration of mobile Internet and the way it can transform the market in terms of shopping, paying bills and banking,” an analyst said.
PTI

PTI

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