INDIAN MARKET LEADING FINTECH COMPANY | PAYTM | STORY FROM SMALL STARTUP TO MARKET LEAD

By the grace of god, Hope you friends are well today. I am back with the success story of the Indian  market leading fintech company, paytm. In the earlier post we had talked about the founder of the market leading fintech company paytm. Paytm left all other competitors very back, like Freecharge, Airtel, MobiKwik, JioMoney etc in which second market leading fintech company is freecharge which holds only 11% of market share. We have seen in the earlier post of the https://summarytraffic.blogspot.com/ vijay shekhar Sharma how talented he is and more we will discuss later.

Startup Named Paytm

Paytm is an Indian payment system and digital wallet company which is very helpful in bill payments, railways tickets booking, hotel booking and more. ^st January 2010. Its revenue is about 8.140 Billion INR (2017) which is crossed in the recent time. Paytm is NOIDA SEZ based startup which offers online use-case like Mobile Recharges, Utility Bill Payments, Travels, Movies, and Event Bookings etc and it is available in 11 Indian Languages.

Paytm is the market leading fintech company, in which fintech means fin:- Finance and tech:- Technology. It is the market leading company with the market share of 68% and the second market leading company is Freecharge which holds 11% of the market share and the third company in the line is Airtel for about 5% of the market share and all others are in the line i.e MobiKwik, JioMoney, PhonePe, OLAMONEY, GooglePay and more. It was founded by Vijay Shekhar Sharma on 01

How Paytm Was Founded

Hope you all studied my earlier post of Vijay Shekhar Sharma,XS Communications, a college based startup that created Content Management System. And later on he moved in search of something better and after sometime he started one97 Communications which offers mobile content including news, jokes, cricket scores, ringtone, exams result. In which Mr. Vijay once ended up with a loan of Rs. 8 Lakhs, which is a huge amount for a common man in days. But he never gave up he worked hard and later on he founded PAYTM in August 2010.

the Founder and CEO of PAYTM. In which I had mentioned why the shool topper becomes the college backbencher and later on bunking of the class and spending whole time with computer in computer lab. Time is money as for example in this situation Mr. Sharma used to spend time with computer and internet then how could he becomes an engg. As a student in the college he started working as an entrepreneur, Vijay built his first company –

Earlier Journey of Paytm        

  Every journey starts with some difficulties and we have to overcome these difficulties to be successful. Paytm was founded by Vijay Shekhar Sharma in August 2010. He himself was the first investor in his startup for $2 million as initial investment. Paytm was started as prepaid mobile and DTH recharge platform and later added more features. It lunched gift cards and rail booking, movies tickets, events, and more.

Founder:-  VIJAY SHEKHAR SHARMA

Area Served:- India, Canada

Headquarters:- Noida, Uttar Pradesh, India

Industry:- Internet

Type Of Site:- E-commerce

Products:- Paytm Mall, Payment Bank, Paytm Money, and more

Services:- Online Shopping, Digital Wallets, Payment System

Revenue:- $120 million

Website:- paytm.com

Success Story of Paytm

Paytm was stared as a simple billing system but now the success is seen as it is available in 11 Indian Languages and offers like mobile recharge, utility bill payments, travel, movies, and event booking. Success of paytm is shown as it is available in small stores even for those who don’t have their bank accounts but they offers paytm payment system available in their stores like grocery stores, fruits shop, vegetable shops, parking coupons and more.  postpaid, mobile and landline bills payment started. In 2014, the company launched the paytm wallet and Indian Railways and uber added it as a payment system and this gave the most positive response to the founder and the investor. In 2015, it was used in education fees, metro recharges, electricity, Gas, Water Bills, payments also.

It was started for prepaid mobile and DTH recharge and later in 2013 data card,

Paytm QR was launched in 2016 and his helped shopkeepers, which reduced the use of coins in the market. Once Mr. Sharma was in China he saw that the shopkeepers have a machine which automatically get the amount from the things purchased by the customers and he got the concept of QR Code which is in the things but he changed the concept according to India and gave QR Code to shopkeepers and machine to costomers as mobile. 7 million merchants across India use this QR Code to accept Payments directly  

Paytm`s user grew from 11 million in 2014 to 104 million in 2015 and In 2017, Paytm become India`s first payment app to cross over 100 million app download. In 2018, January PAYTM is valued at $10 Billion and it started allowing merchants to accept Paytm, UPI, Card Payment directly into Bank Accounts. It launched two new wealth management products:- 1. PAYTM GOLD SAVING and  2. GOLD GIFTING TO SIMPLIFY LONG-TERM SAVING.   

In August 2015, The Reserve Bank of India granted `in-principle` approval for Payment Bank to Paytm.   

Funding

Mr. Sharma, himself was the first investor in startup named paytm about $2 million. In march 2015, Paytm received funding outside India from Chinese e-commerce company Alibaba Group besed in Hangzhou, China. Soon after by the success of paytm Indian investor wanted to invest Mr. Ratan Tata, the MD of the Tata Sons. In May 2017, paytm received its biggest round of funding by a single investor named Soft Bank. And after some time Warren Buffett invested in Paytm.

Investments and Acquisitions    

In 2013, Paytm acquired Plustxt for around less than $2 million.

In 2015, Paytm invested $5 million in auto-rickshaw aggregator and hyperlocal delivery firm Jugnoo.

It also acquired Delhi-besed costomer behaviour prediction platform Shifu and local services startup Near.in .

In 2016, Paytm invested in logistics startup LogiNext and XpressBees.

In April 2017, Paytm invested in healthcare Startup QorQL. In the same year, paytm acquired Little & Nearbuy, and merged both.

In year 2018, the company acquired the startup named Cube26.

Paytm was recognized as Outstanding Startup Of The Year Award at FORBES Leadership Award 2016.

     I would like to thanks all my readers for your continuous support.