Paytm Cloud buys 25% stake in Seven Tech to explore opportunities in Brazil

2 hours ago 1

Fintech steadfast Paytm subsidiary Paytm Cloud Technologies has acquired 25 per cent involvement successful a Brazilian exertion steadfast Seven Technology LLC to research concern opportunities successful the Latin American country.

The Paytm committee approved the incorporation of Paytm Cloud Technologies Limited (PCTL) past period to research concern opportunities successful the overseas market.

"Paytm Cloud Technologies Limited, our wholly-owned subsidiary (PCTL), that the Board of Directors of PCTL astatine its gathering held connected February 03, 2025...Has approved an concern of USD 1 cardinal (equivalent to Rs 8.70 crore) successful Seven Technology LLC incorporated successful Delaware for the acquisition of 25 per cent stake," the institution said successful a regulatory filing.

Seven Technology is the genitor institution of Dinie Correspondente Bancário e Meios de Pagamento Ltda (Dinie), an API-first embedded concern startup.

Dinie enables integer and e-commerce platforms to supply integer fiscal services solutions to micro, tiny and medium-sized enterprises (MSMEs) successful Brazil.

"This concern would assistance successful knowing the merchants' concern scenery and accidental successful the Brazilian market," the filing said.

The acquisition is expected to beryllium completed wrong 45 days.

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