Acquisitions3 Feb 2025, 02:12 pm
Paytm Cloud Technologies to Acquire 25% Stake in Brazil-based API-first Embedded Finance Start-up Dinie for USD 1 Million
AI Summary
Paytm Cloud Technologies Limited, a wholly-owned subsidiary of One 97 Communications Ltd, has approved an investment of USD 1 million (equivalent to INR 8.70 crore) in Seven Technology LLC, the parent company of Dinie Correspondente Bancario e Meios de Pagamento Ltda. The acquisition will result in Seven Technology LLC and Dinie becoming associate entities of the Company. The acquisition will help Paytm understand the merchants’ business landscape and opportunity in the Brazilian market.
Key Highlights
- Paytm Cloud Technologies to acquire 25% stake in Seven Technology LLC for USD 1 million
- Seven Technology LLC is the parent company of Dinie Correspondente Bancario e Meios de Pagamento Ltda, a Brazil-based API-first embedded finance start-up
- Dinie enables digital/ e-commerce platforms to provide digital financial services solutions to micro, small and medium-sized enterprises (MSMEs) in Brazil
- The acquisition will help Paytm understand the merchants’ business landscape and opportunity in the Brazilian market
- No governmental or regulatory approval is required for the acquisition