Online investment platform Paytm Money has set up a new R&D facility in Pune, Maharashtra, which will drive product innovation, especially in the area of equity, mutual funds, and digital gold. The company added that it plans to hire over 250 engineers and data scientists to build new wealth products and services.
Paytm Money aims to achieve over 10 million users and 75 million yearly transactions in FY21, with the majority of users coming from small cities and towns.
Important takeaways for all competitive exams:
- Paytm HQ: Noida, Uttar Pradesh;
- Paytm Founder & CEO: Vijay Shekhar Sharma.
- Paytm Money CEO: Varun Sridhar.