Paytm seeks $500 million for new business | CashKaro News Network

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Paytm is in talks to raise about $500 million from existing and new investors to build a new business vertical. The new retail is likely to be launched by the end of August and will be led by Renu Satti, who has stepped down as the chief executive of Paytm Payments Bank. The new vertical will be on the lines of China’s Koubei and Meituan where both act as life search engines. New Retail will help customers discover neighbourhood pharmacies, grocery stores and will also facilitate online orders and instant deliveries. Paytm has already partnered with a large network of local shops, restaurants, pharmacies and grocery stores for accepting payments and will soon extend New Retail services to them.

Source: Livemint.com

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