Abhishek Securities

  Paytm  has topped the list of the 100 hottest startups of 2020, according to a report conducted by  Wizikey , a PR- SaaS startup. Interestingly, as per the The Hottest Startups of 2020 report, all the top ten startups on the list are unicorns, namely Paytm, Dream11, Zomato,  Ola , Swiggy, Big Basket, Oyo, Byjus, Snapdeal, and Unacademy (mentioned according to rank). Wizikey said Paytm tops the list in terms of creating the most consistent buzz throughout the year while Dream11 bags the title for prominence of its brand. Further, 19 of the top 100 startups are from the Fintech industry. The fairly new entrant in the startup world Cred swiftly found a spot at number 11 in a short span of time. The B2C e-commerce industry, especially beauty, also made a splash in 2020 with players like Nykaa and Purplle. Big Basket found itself leading the sectoral list but ranking overall at number 6, above Grofers which is ranked at 15. “Fintech is clearly doing it right a...

  US-based mutual fund T Rowe has raised Paytm’s valuation by about 35 per cent to $255 per share, taking the total enterprise value of the Indian digital financial services firm to $16 billion, according to a regulatory filing. T Rowe Price Communications and Technology Fund has valued its investment in One97 Communications (operates under brand name Paytm) at $82,16,610 for 32,222 shares, according to a SEC filing of the company. This implies that the value of each Paytm share was $255 as on September 30, 2020. The mutual fund company had earlier cut down the valuation of Paytm to $188 a share due to the impact of the COVID-19 pandemic. When contacted, Paytm spokesperson said, “We see strong traction in our business across digital payments, consumer internet, merchant services and financial services.” T Rowe Price had invested at least $150 million in Paytm in December 2019. The Paytm spokesperson added that every investor who has ever invested in Paytm has held on to the shares ...

  Paytm   Money, the wealth management arm of One97 Communications Ltd, will allow users to invest and participate in upcoming initial public offerings (IPOs) in India on its platform, it said on Sunday. Paytm Money will enable investors to instantly apply for the latest IPOs from their Unified Payments Interface ( UPI ) ID-linked bank accounts and complete the application process in three-four days. The platform will also offer an interface to help users change, cancel or reapply the bids within the IPO window. It will also aim to introduce features that will allow investors to track upcoming IPOs, view company history, download the draft prospectus, and check the performance of past IPOs. This service will be available both on the Paytm Money app and the website. The new service will give retail investors wealth creation opportunities as they will be able to apply and join the growth story of rapidly expanding companies, the company said. “The Indian startup ecosystem has a ...

  Paytm Money is planning to launch loan against stocks and mutual funds, it said Tuesday. The fintech major, which launched direct mutual fund platform in September 2017, reported investments worth  ₹ 5,000 crore through its platform in February this year. Later in September, the company introduced direct stock trading for its customers. The platform has seen investors shift some of their mutual fund allocations to stock trading, Varun Sridhar, CEO of Paytm Money told Mint. It has also seen an increase in the average SIP amounts this year, particularly from more experienced investors. "As a leading direct mutual fund distributor and wealth platform, managing customers’ short-term liquidity needs or unforeseen expenses is our priority. We are thus considering and studying the launch of a simple loan against securities products involving both mutual funds and invested stocks. The key is a few click experience, lower than unsecured loans pricing and a flexible product," said Sr...

  Home-grown digital financial services platform  Paytm  on Friday announced that within a year of launching the LPG cylinder bookings service, it has registered over 5 million bookings. With this, Paytm has become the largest enabler of LPG cylinder bookings in the country. Paytm started ‘Book a Cylinder’ facility last year by partnering with HP Gas, followed by Indian Oil's Indane. The tie-up with Bharat Gas was announced in May this year. The platform is witnessing a high number of repeat customers, because of its hassle-free and simple booking process. How it works? All that a user needs to do is go to ‘Book a Cylinder’ tab, select his gas provider, enter LPG ID/mobile no./consumer no. and then make the payment. The cylinder is delivered to the registered address by the nearest gas agency. Narendra Yadav, Vice President at Paytm said, “LPG cylinder is one of the largest utility categories in the country, covering all socio-economic classes & geographical regions. ...

  When the   Reserve Bank of India   (RBI) issued a notification on interoperability of wallets in October 2018, many saw it as a move that will allow fund transfer between wallets. Many anticipated that users will be able to transfer money from, say, Paytm to   PhonePe , and vice-versa. But financial technology companies have taken this feature beyond its simple utility and are introducing innovative products that offer convenience to consumers. According to the RBI notification, the interoperability of wallets had to happen in three stages. One, wallet companies would join the  Unified Payments Interface  (UPI). Two, wallets would be able to transfer money to bank accounts on UPI, and three, wallet companies will be allowed to issue prepaid Rupay cards. It’s the prepaid card that fintech firms are using to come up with new offerings in loan and payments space. Let’s take a look at them. CHOOSE YOUR CREDIT LIMIT AND TENURE At present only two wallet compan...

  Indian tech start-up Paytm is “super comfortable” with its position in an increasingly competitive payments sector in the country, a top executive at the company said Monday. Paytm is an ubiquitous name in India’s digital payments sector. Millions of Indians use the service to pay for things including utility bills, groceries, recharging mobile connections or buying movie tickets. Paytm is also a  fully licensed digital bank . The service faces competition from the likes of Google Pay,  Walmart’s  PhonePe and most recently  Facebook’s  WhatsApp messaging service, which announced a feature  allowing its users to send money through the app . “It’s no doubt that India is the last big tech market in the world and it’s an open market,” Madhur Deora, president of Paytm, said on CNBC’s “ Street Signs Asia. ” The interview was part of CNBC’s annual  East Tech West  conference, which is being held this year both remotely and on the ground in the Nan...

  Paytm has entered into a new partnership with cab aggregator Uber. As part of the association, users will be able to pay for their  Uber rides through their  Paytm Postpaid account, enabling commuters to shift from cash to Postpaid service. This means users can take an Uber ride and can pay later for it. The company claims that the Postpaid service integration will further promote digital transactions on Uber’s platform and enhance the customer experience. In order to avail the facility, registered users can pay through the Paytm app, with funds from their activated Postpaid account after completion of a trip. The user can repay later at his convenience, by paying his Paytm Postpaid bill which is generated on a monthly basis. Talking about the service, Bhavesh Gupta, CEO, Paytm Lending said, "We are excited to extend our long-term association with Uber India and enable its commuters to benefit from the convenience of Paytm Postpaid services. This partnership is ano...

  Financial services platform Paytm has launched Payout Links, for businesses to process payout transactions easily, the company said in a press note on November 10. Payout Links will allow businesses to send ‘incentives’ or refunds to the customers’ bank accounts or wallet accounts. It is aimed at helping small businesses in sectors like gaming, retail, export, manufacturing and e-commerce. It can be used for salary payments, vendor payments, commissions and incentive transfers to be done instantly. Paytm Payout Links can be easily created and shared with customers, vendors and employees in one go. The receiver needs to simply open the link and is automatically provided with a list of saved accounts such as Paytm Wallet, Paytm UPI and connected bank accounts, which can be chosen to receive money instantly. This feature is a new addition on the Paytm Payout feature which is meant for bulk payments to bank accounts, UPI handles and Paytm wallets instantly. The service already proces...