New Delhi, Feb 3 (PTI) – Paytm’s wholly-owned subsidiary, Paytm Cloud Technologies Limited (PCTL), has acquired a 25% stake in Brazilian technology firm Seven Technology LLC for $1 million (approximately ₹8.7 crore) as part of its international expansion strategy.
The move comes after the Paytm board approved the incorporation of PCTL last month, specifically to explore business opportunities in overseas markets. In a regulatory filing, Paytm confirmed that PCTL’s Board of Directors approved the investment in Seven Technology LLC, a Delaware-registered entity, during a meeting on February 3, 2025.
Seven Technology is the parent company of Dinie Correspondente Bancário e Meios de Pagamento Ltda (Dinie), a fintech startup focused on API-first embedded finance solutions. Dinie enables digital and e-commerce platforms to offer financial services to micro, small, and medium-sized enterprises (MSMEs) in Brazil.
"This investment would help in understanding the merchants' business landscape and opportunities in the Brazilian market," Paytm stated in its filing.
The acquisition process is expected to be completed within 45 days, marking a significant step in Paytm's global expansion efforts, particularly in the Latin American fintech ecosystem.
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