Paytm, mobile wallet and e-commerce marketplace, is expected to close three-four start-up funding deals this month as part of its investment programme from a corpus of $150-200 million fund which the company had started in 2015, Kiran Vasireddy, senior vice president at Paytm told FE.
Most of the start-up investment are in the technology space which would largely be mobile tech or fin tech,â€ he added.
The investment fund is coming from our balance sheets only. We have invested in about 20 companies till date. This is the ($150-200 million) corpus we have allocated for our investments in the next 2-3 years,â€ Vasidreddy said.
In the online-tech space, Paytmâ€™s big-ticket investments include $15 million in Jugnoo, on-demand auto-aggregator and $50 million in Little, marketplace for deals. These investments have enabled Paytm to expand its user-base to consumers of Jugnoo and Little and leverage technologies via its $10 million-investment in data analytics start-up LogiNext Solutions.
Earlier this month, Paytm launched loans services for SMEs where small merchants will have access to collateral-free loans for their working capital needs. Paytm has tied-up with Capital Float, Aditya Birla Finance and Capital First to help SMEs raise loans between R10,000 to R100,000. Paytm will act as a facilitator between the financial institution and merchant to help them get unsecured loans. Similar offerings have been launched by companies such as Snapdeal, Flipkart and AskMe Group.
Paytmâ€™s target is about Rs 13,000 crore of GMV from utility bill payments in FY17.
Paytm reported a loss of Rs 372 crore for year ended March 31, 2015, according to the companyâ€™s filing with the registrar of companies. It reported revenue of Rs 337 crore on total expenses of Rs 697 crore in FY15.