 "Paytm")
Paytm Cloud Technologies (PCTL), a wholly owned subsidiary of Paytm brand operator One97 Communications (OCL), incorporated Paytm Singapore on Tuesday.
PCTL’s Board of Directors approved a subscription of SGD 250,000 (Singapore dollars) toward the acquisition of 25,000 equity shares of SGD 10 each at par in Paytm Singapore.
Earlier this year, PCTL acquired a 25 per cent stake in Brazil-based embedded finance firm Seven Technology for $1 million.
The acquisition of this stake will enable the company to better understand the merchants’ business landscape in the Brazilian market, Paytm said.
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