1. Paytm Cloud Technologies, a subsidiary of Paytm, has gained board approval to establish three new subsidiaries in the UAE, Saudi Arabia, and Singapore.
2. This initiative aligns with Paytm’s strategy to broaden its global footprint and capitalize on its tech-driven payment and financial service offerings in international markets.
3. Additionally, Mobiquest Mobile Technologies, another Paytm subsidiary, is preparing to sell its entire 100% ownership in Xceed IT Solutions, its fully owned subsidiary.

Paytm, a leading fintech company, is gearing up to establish three new subsidiaries in the UAE, Saudi Arabia, and Singapore through its subsidiary, Paytm Cloud Technologies. This move reflects the company’s ambition to broaden its global presence and leverage its tech-driven payment and financial services in international markets.

In an exchange filing on January 20, the company announced that the board of Paytm Cloud Technologies Limited (PCTL), its wholly-owned subsidiary, has given the green light to the creation of these new entities. Once operational, these subsidiaries will function as step-down entities under Paytm.

The publicly listed fintech leader has revealed plans to explore multiple avenues for growth in international markets, including inorganic expansion, securing local licenses, strategic investments, and forging partnerships.

The proposed wholly owned subsidiaries will be established within six months, with an initial investment of up to INR 20 crore allocated to each unit, distributed in one or more tranches.

In parallel, Paytm’s subsidiary, Mobiquest Mobile Technologies, has secured board approval to sell its entire 100% stake in its fully owned subsidiary, Xceed IT Solutions. The shares will be acquired by Xceed IT’s current directors, Vineet Narang and Sabina Kamal, for a cash transaction amounting to INR 60,728.

Operating in the IT sector, Mobiquest Mobile Technologies specializes in computer programming, consultancy, and related services.

Paytm also reported a 6% reduction in its consolidated net loss for the third quarter of FY2024-25, narrowing it to INR 208.5 crore compared to INR 221.7 crore in the same period last year.

The company posted a net profit of INR 930 crore in the September quarter of the current fiscal year.

During the reviewed quarter, operating revenue dropped by 36% to INR 1,827.8 crore compared to INR 2,850.5 crore in the same period last year. However, it marked a 10% growth from INR 1,659.5 crore reported in the previous quarter.

The post UAE, Saudi Arabia, And Singapore To Benefit From Paytm Cloud’s Innovative Financial Services appeared first on Travel And Tour World.