Paytm Cloud incorporates Paytm Singapore as wholly-owned subsidiary

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.