One 97 Communications announced that the Board of its wholly owned subsidiary, Paytm Cloud Technologies at its meeting held on 03 February 2025 has approved an investment of USD 1 million (equivalent to Rs 8.70 crore) in Seven Technology LLC incorporated in Delaware for acquisition of 25% stake and execution of transaction documents in this regard.
Seven Technology LLC is the parent company of Dinie Correspondente Bancio e Meios de Pagamento (Dinie), Brazil based API-first embedded finance start-up. Dinie enables digital/ e-commerce platforms to provide digital financial services solutions to micro, small and medium-sized enterprises (MSMEs) in Brazil. Post consummation of the transaction, Seven Technology LLC and Dinie will become associate entities of the Company.
This investment would help in understanding the merchants' business landscape and opportunity in the Brazilian market.
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