Paytm Cloud has approved a Rs 8.7 crore ($1 million) investment in Seven Technology. The company will acquire a 25% stake in Seven, parent One 97 Communications said in a filing to the exchanges.
Paytm Cloud is a wholly-owned subsidiary of One 97.
Seven Technology is the parent company of Dinie, Brazil-based API-first embedded finance startup. It enables ecommerce platforms to provide digital financial services solutions to micro, small and medium-sized enterprises (MSMEs) in Brazil. After this, Seven Technology and Dinie will become associate entities of the company.
This investment would help in understanding the merchants’ business landscape and opportunities in the Brazilian market, the company said.
Source: Economic Times