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<ul><li>Analysts say that Paytm’s management appears confident of achieving adjusted EBITDA break-even by September 2023. </li><li>Moreover, Paytm plans to become cash flow positive within the next 12-18 months. </li><li>CLSA said that target for free cash flow is in-line with its view of cash burn ending in the next 4-6 quarters. </li><li>Further, Paytm expects to largely double its unique borrower base from the current 7 million in 12 months’ time.</li></ul>Shares of Noida-based digital payments and financial services company One97 Communications (Paytm) surged nearly 8% on Friday after the company’s analyst meeting on December 1 set an optimistic timeline for its future growth trajectory. Analysts say that Paytm’s management sounded confident about achieving adjusted EBITDA break-even by September 2023. Moreover, it plans to become free cash flow positive within the next 12-18 months. EBITDA is earnings before interest, taxes, depreciation and amortisation. Paytm’s commitment towards becoming profitable may pacify investors as the stock value is down 70% in the last one year. While many new-age tech stocks have been <a href="https://www.businessinsider.in/stock-market/news/four-new-age-company-stocks-turn-volatile-post-end-to-lock-in-period/articleshow/95583789.cms#:~:text=Shares%20of%20new%2Dage%20companies,eligible%20to%20sell%20their%20shares.">beaten down in November </a>after their IPO lock-in periods ended, Paytm has seen the most value destruction. “Public markets listing, which is considered a litmus test for valuations, has ended up becoming a poisoned chalice for a few. This trend is a clear indication that startup valuations based on “2021 parameters” in private markets are up for a bumpy ride,” said Anas Rahman Junaid, MD and chief researcher at Hurun India. Two large block deals, with media reports suggesting Masayoshi-led <keyword id="163404" type="General" weightage="50" keywordseo="softbank" source="Orion">SoftBank</keyword> was to exit the company, also spooked investors on November 17 – the stock lost 10% of its value on that day. Moreover, the large-scale concerns on their ability to achieve profitability were exacerbated by widening net losses in the latest quarter. In the quarter that ended in September, Paytm’s net losses widened 20% year-on-year to ₹571 crore compared to ₹473 crore in Q2 FY22. Meanwhile, its revenue grew 76% to ₹1,914 crore in the same period. However, its EBITDA losses stood at ₹538 crore in Q2 FY23. <cmsannotation type="cmsannotation" annotationid="Key notes from analysts’ call" comment="subhead" text="Key notes from analysts’ call">Key notes from analysts’ call</cmsannotation> However, the recent promise to end cash burn seems to have cooled some of the concerns that the investors had. “While we have remained cautious on Paytm’s business model since our initiation given the high cash burn, risk on take rates in financial services business and long road to profitability, its operating metrics are gradually improving (net payment margin, ramp up of financial services) with management’s focus on increasing efficiencies and profitability, which in turn should aid Paytm achieve EBITDA breakeven by FY26E, in our view,” said analysts at JM Financial in a report. Brokerage firm CLSA, after the analysts meeting said, “On profitability, it (Paytm) expects to become free cash flow positive in the next 12-18 months, which is in line with our view of cash burn ending in the next 4-6 quarters, as highlighted in our recent report.” Further, Paytm has been shifting focus to its lending business. It expects to largely double its unique borrower base from the current 7 million in 12 months’ time. Currently, around 30% of the company’s BNPL (buy now pay later) customers have credit cards. It has also tied up with multiple leading non-banking financial companies (NBFCs) to provide end-to-end digital loans across 3 categories: postpaid loans (BNPL), personal loans and merchant loans Payments business remains a key vertical with 79.7 million average monthly transacting users and 4.8 million subscription paying merchants. Payments business has two key margin drivers – payment processing and subscription revenues, says a report by JM Financial. Paytm believes its net payment margin will not be impacted materially even if there is a reduction in merchant discount rate (MDR). Note that MDR is a rate charged to a merchant for payment processing of a debit or credit card transaction. While its <a href="https://www.businessinsider.in/business/corporates/news/paytms-lending-and-merchant-businesses-drive-revenue-growth-in-q2-low-penetration-offers-headroom-for-growth-say-analysts/articleshow/95423464.cms">lending and merchant businesses are growing</a>, their penetration is still low. Only 4% of its 79.7 million monthly transacting users (MTU) avail postpaid loans. Even fewer, at 0.6% of them, avail personal loans – indicating that there is room for growth in this business. Paytm also monetises traffic on Paytm app by providing marketing services to other businesses. It helps merchants sell their tickets, gift vouchers, deals, etc. and is currently cash profitable. “Management stated that the journey to attain operating profitability (EBITDA before ESOP cost) via consistent margin improvement has exceeded its expectations in the past few quarters,” said analysts at ICICI Securities. Post the management call by Paytm that provided insights on its business model, analysts have come out with largely positive reports, with at least one upgrade in stock rating. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rating </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CLSA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹650 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Equal weight </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹695 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upgraded to Buy from Sell </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹600 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,285 </td></tr></tbody></table> Paytm’s analyst meeting in Mumbai was addressed by the top management including <keyword id="914589" type="General" weightage="50" keywordseo="vijay-shekhar" source="Orion">Vijay Shekhar</keyword> Sharma – chairman, MD and CEO, <keyword id="3723104" type="General" weightage="50" keywordseo="madhur-deora" source="Orion">Madhur Deora</keyword> – president and group CFO and Bhavesh Gupta – COO. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-at-80-against-the-usd-a-possibility-say-analysts-as-us-fed-hints-at-slower-rate-hikes/articleshow/95940818.cms">Rupee may hit 80/$ aided by trifecta of softer rates, cooling crude and stronger macros, say analysts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/top-10-largest-employers-companies-in-india-in-2022/slidelist/95940138.cms">These companies are the top 10 employers in India as per Hurun list 2022</a>

Paytm’s optimistic growth projections boost sentiments, shares climb nearly 8%

At a time when the country is hankering for lower denomination currency notes amidst the chaos of currency demonetization, the tech savvy countrymen are breathing relief, all thanks to <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword>. 
 Now the Noida based ecommerce platform specializing in recharge and payments has just acquired Delhi-based <keyword id="3393722" type="UNKNOWN" weightage="20" keywordseo="Shopsity">Shopsity</keyword> in a bid to strengthen its offline retail network. Shopsity follows an online-tooffline model that offers solutions to small retail stores. 
 
While there is no update on the transaction value, Paytm is creating seller-focussed services for its offline merchants. The company is in the process of acquiring merchants to accept payments and plans to go deeper and offer a more engaged platform for interacting with customers. 
 Shopsity co-founders <keyword id="2509279" type="UNKNOWN" weightage="20" keywordseo="Danish-Ahmed">Danish Ahmed</keyword> and <keyword id="625133" type="UNKNOWN" weightage="20" keywordseo="Gaurav-Arya">Gaurav Arya</keyword> have joined Paytm's management and are actively working to strengthen seller services for the 8,00,000-strong offline sellers on the Paytm ecosystem. The acquisition will aid Paytm's targof reaching 4 million offline merchants by March 2017, the company claims. 
 “We are working to bring an entire suite of digital services to them,” <keyword id="3916" type="PERSON" weightage="20" keywordseo="Ahmed">Ahmed</keyword> told the Economic Times. Shopsity was Ahmed's second venture after he quit as CEO of <keyword id="889290" type="COMPANY" weightage="20" keywordseo="Yebhi">Yebhi</keyword> in May 2015. "By integrating Shopsity's technology with our advanced seller services, we will be able to offer additional solutions to our family of small offline merchants. I am confident this acquisition will offer further momentum to online-to-offline,” said <keyword id="3723104" type="UNKNOWN" weightage="20" keywordseo="Madhur-Deora">Madhur Deora</keyword>, chief financial officer at Paytm told the ET.

Paytm is just nailing the offline market with its recent acquisition of Shopsity

<ul><li>SoftBank will be selling shares worth ₹1,689 crore or $225 million in <keyword id="6357120" type="General" weightage="20" keywordseo="Paytm" source="Orion">Paytm</keyword>’s IPO.</li><li>Paytm is seeking a valuation of $19.3- $19.9 billion with this public issue.</li><li>The company’s IPO will open from November 8 to November 10.</li></ul>One 97 Communications — the parent company of digital payments giant Paytm — will launch its initial public offering (IPO) on November 8 to raise ₹18,300 crore ($2.4 billion). This is India’s largest IPO to date, surpassing Coal India’s ₹15,000 crore public issue raised in October 2010. Paytm intends to raise nearly ₹8,300 crore through fresh issues, while the rest ₹10,000 crore would come as an offer for sale (OFS) from the existing stakeholders in the company. According to the red herring prospectus (RHP), <keyword id="198636" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="Orion">Vijay Shekhar Sharma</keyword> will be looking to sell shares worth ₹402 crore ($53 million) in <keyword id="8069901" type="General" weightage="20" keywordseo="paytm-ipo" source="Orion">Paytm IPO</keyword>. Meanwhile, China-based <keyword id="302749" type="General" weightage="20" keywordseo="alibaba" source="Orion">Alibaba</keyword> Group is expected to make the most out of Paytm’s IPO. Its affiliate entities — ANT Group and Alibaba.com — will be selling shares worth ₹5,488 crore (about $733 million) cumulatively. This is nearly 30% of Paytm’s IPO size. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stakeholders </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offer for Sale </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vijay Shekhar Sharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹402 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ant Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,700 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alibaba Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹784.8 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SoftBank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,689 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elevation Capital (previously called SAIF) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2030 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Paytm's RHP SoftBank will be selling shares worth ₹1,689 crore ($225 million) in Paytm’s IPO. Paytm is seeking a valuation of $19.3- $19.9 billion with this IPO. The company was last valued at $16 billion in 2019, after it raised a<a href="https://www.businessinsider.in/business/startups/news/vijay-shekhar-sharma-opens-next-chapter-at-paytm-as-it-raises-1-billion-from-t-rowe-softbank-and-others/articleshow/72217033.cms"> billion dollars</a> from several investors. It is currently the highest valued fintech startup in the country. One97 Communications works in several verticals — digital payments, commerce, lending and insurance. It also owns an ecommerce business Paytm Mall and a payments bank Paytm Payments Bank, which are not a part of the current public issue. Earlier, it was reported that Paytm had decided to <a href="https://www.businessinsider.in/business/news/paytm-may-drop-its-pre-ipo-sale-as-advisors-recommend-lower-valuation/articleshow/87187525.cms" data-type="tilCustomLink">skip its pre-IPO round </a>over valuation differences. However, Madhur Deora, president and group chief financial officer of Paytm, highlighted that the company decided to skip its pre-IPO round as it is a lengthy process and it wanted to meet the deadline it had set for itself. The company’s IPO will open from November 8 to November 10, at a price range of ₹2,080 - ₹2,150 per equity share. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/nykaa-raises-2400-crore-from-174-anchor-investors/articleshow/87325004.cms">Nykaa raises nearly ₹2,400 crore in anchor investment from Government of Singapore, Goldman Sachs, JP Morgan and others</a> <a href="https://www.businessinsider.in/stock-market/news/adani-ports-share-price-tumbles-due-to-poor-results-myanmar-exit/articleshow/87328012.cms">Adani Ports share price tumbles due to poor results, Myanmar exit</a> <a href="https://www.businessinsider.in/tech/enterprise/news/it-firm-cognizant-faces-the-worst-attrition-rate-in-the-industry-hires-record-number-of-employees-to-fill-the-gap/articleshow/87327386.cms">Cognizant faces the worst attrition rate in the industry, hires record number of employees to fill the gap</a>

Alibaba will make $730 million from Paytm IPO, Vijay Shekhar will earn $54 million

Digital financial services firm <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> on Friday said its revenue for fiscal year ended March 31, increased to Rs 3,629 crore supported by increase in number of transactions across various segments and point of sale devices. The home-grown financial technology firm said its losses have narrowed by 40 per cent on a year-on-year basis. "We are on the path to empowering millions of Indians with digital financial services that would play a key role in building Atmanirbhar Bharat. We are also investing heavily in building digital services for our merchant partners. "Our efforts have started reflecting in the strong adoption of more profitable services by our consumers and merchants," Paytm President Madhur Deora said in a statement. Major growth registered from financial services and point of sales devices and optimising expenses resulted in a 40 per cent reduction in losses as compared to last year, the statement said. "We are on path to become profitable by 2022. Paytm is also moving its efforts to become a dominant digital financial services platform with Paytm Postpaid, Paytm Money and Paytm Insurance services contributing an increased turnover in the coming fiscal years," Deora said. Paytm has expanded its financial services with lending, wealth management and insurance segments, which the company claims have opened up new revenue streams. The company said that it has sold 2 lakh units of Android-based point of sale (POS) devices amid demand from small and medium-sized enterprises (SMEs), grocery stores etc. Paytm expects significant push in recently launched stock trading segment on its online investment and wealth management platform Paytm Money and expects to get traction of both experienced as well as first-time investors. "Paytm has registered over 1.7 crore merchant partners benefiting from its payment and financial services with launch of merchant focused products such as Paytm for business app, Soundbox, Business Khata, Payout services among others that are transforming the way SMEs do business in the country," Deora said. Paytm said that it is investing heavily in hiring new talent even during this ongoing pandemic and is in the process of hiring over 1,000 engineers, data scientists, financial analysts among other positions for tech and non-tech roles.

Paytm’s revenue jumps to ₹3,629 crore, losses reduce by 40% – says it's on track for profitability by 2022

New Delhi, Mar 28 () Digital payments company Paytm on Saturday said it aims to contribute Rs 500 crore to Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES).For every contribution or any other payment made on Paytm using the wallet, UPI and Paytm Bank debit card, the company will contribute an extra up to Rs 10, Paytm said in a statement."We are honoured to do our duty to aid the government in all the relief measures being taken to fight the Corona pandemic. We hope our users wholeheartedly donate to PM CARES fund and help save lives," Paytm President Madhur Deora said.He added that the company will make a contribution for every payment transaction using the Paytm app and instruments, and this money would be directly sent to the PM-CARES fund.Previously, Paytm had created a Rs 5 crore fund for innovators who are developing medical instruments or medicines to combat the virus.The PM CARES Fund is exempt under the Income Tax Act, 1961 under Section 10 and 139 for return purposes. Contributions towards PM-CARES are notified for 100 per cent deduction from taxable income under section 80(G) of the Income Tax Act, 1961. SR MRMR

Paytm looks to contribute Rs 500 cr to PM CARES Fund

New Delhi, Mar 30 () Ed-tech platform Lido Learning on Monday said it has raised USD 3 million from Rocket Internet founder Alex Samwer-backed Picus Capital and Paytm President Madhur Deora, among others.The Mumbai-based company had previously raised USD 3 million in November last year led by investors like Ronnie Screwvala, Ananth Narayanan, Vikrampati Singhania and others."Lido Learning is actively disrupting the K-12 market. Considering the current global pandemic, learning online has become the need of the hour. This is pulling the Indian market towards adopting online tutorials much faster than initially expected and is a huge tailwind enabling us to become a dominant category creator within a short span of time," Lido Learning founder and CEO Sahil Sheth said in a statement.Lido Learning provides live, interactive tutoring sessions to students and parents that push learning outcomes through a 6:1 student-teacher ratio, frontier technologies, and personalised content. It is expanding from metros to Tier II and Tier III cities.According to a Google and KPMG report, primary and secondary supplementary education will be the largest category in online education by 2021 growing at a CAGR of 60 per cent."The tremendous growth in the months since launch has proved the great product-market fit they have found. We are excited to be a part of the vision of improving the access to and quality of education - one of India's largest and most important sectors - together with such a strong team," Florian Reichert, partner at Picus Capital, said in a statement.Lido Learning is Picus' first investment in the education-technology space and one of its first in India. SR BAL

Lido Learning raises $3 mn from Paytm exec, Picus Capital, others

<ul><li><keyword id="3372203" type="PERSON" weightage="20" keywordseo="Hungerbox">HungerBox</keyword> raised $12 million in its latest round of funding.</li><li>The startup which offers end-to-end food and beverage solutions, has 126 business clients. </li><li>The startup is present in over 18 cities in India and has 1500 employees.</li></ul><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> has invested in <keyword id="3105315" type="PERSON" weightage="20" keywordseo="Foodtech">foodtech</keyword> startup HungerBox - along with other investors like Sabre Partners, Neoplux and NPTK Emerging Asia Fund. The round raised as much as $12 million. “We continue to focus on adding new use cases to our payments business and digitizing offline transactions. HungerBox is the market leader in the institutional FoodTech space and we will partner closely with them and bring the benefits of Paytm ecosystem to HungerBox,” said Madhur Deora, president at Paytm. Founded in 2016, HungerBox offers end-to-end food and beverage solutions. It has 126 business clients, 1500 employees and present in over 18 cities. Through HungerBox, users can pre-order their meals at canteens/cafeterias, power digital payments, provide feedback etc. With the recent investment, HungerBox plans to expand its business offerings and power on its ambitions to become the world’s No.1 institutional foodtech company. “We are following a three-pronged approach-- deepening engagement into the corporate sector where we already serve marquee businesses in India spanning 18 cities; expanding into sectors which reveal massive scope for improving F&amp;B management, such as education, healthcare (hospitals) and retail (malls), where we have already made headway, and; expanding geographically beyond India,” said Sandipan Mitra, CEO and co-founder, HungerBox. See Also: <a href="https://www.businessinsider.in/business/startups/news/top-10-most-funded-indian-startups-of-the-decade/articleshow/72734736.cms">These are the top 10 most-funded Indian startups of the decade</a>

Vijay Shekhar Sharma’s Paytm invests in foodtech startup HungerBox

<keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> launched a special segment for shows with ticket prices below Rs 100-‘Movies under Rs 100’, which will make movie ticketing accessible to a wider set of customers, especially college goers. Paytm users can tap on the ‘Movies Under Rs 100’ icon on the app, choose the movie option, show timing, and pay Rs 100. Madhur Deora, CFO &amp; SVP, Paytm said, “This service is aimed at offering customers the movie going experience at an affordable price.” Meanwhile, Paytm also enabled payment of traffic challan on its platform. "Traffic challan payments in India largely happen at select counters and in cash. We are glad to partner with the state traffic police departments to enable challan payments on the go," said Senior Vice President at Paytm, Kiran Vasireddy.

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Paytm’s optimistic growth projections boost sentiments, shares climb nearly 8%

Bhakti Makwana

Paytm is just nailing the offline market with its recent acquisition of Shopsity

BI India Bureau

Alibaba will make $730 million from Paytm IPO, Vijay Shekhar will earn $54 million

Kritti Bhalla

Paytm’s revenue jumps to ₹3,629 crore, losses reduce by 40% – says it's on track for profitability by 2022

PTI

Paytm looks to contribute Rs 500 cr to PM CARES Fund

PTI

Lido Learning raises $3 mn from Paytm exec, Picus Capital, others

PTI

Vijay Shekhar Sharma’s Paytm invests in foodtech startup HungerBox

Sanchita Dash

Paytm launches ‘Movies under Rs 100’, ‘Traffic Challan’ on its platform

BI India Bureau

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