19 September 2017, India:
Vijay Shekhar Sharma-led Paytm has been expanding into various verticals. It is now all set to capture the travel platforms and compete with MakeMyTrip. Paytm is in advanced talks to acquire Via.com
VIA was incorporated in February 2007 in Bangalore, India. The Company is one of the fast growing & profitable travel company in Asia’s online space driven by technology, better buying due to demand aggregation & forward cash flows. It is backed by venture capital investors including IndoUS Venture Partners and Sequoia Capital, has raised about $15 million in funding. Via.com was formerly known as FlightRaja has 100,000 active travel partners across 2,600 towns and cities, and covers more than 13,000 pin codes across Asia.
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Vijay Shekhar Sharma-led Paytm raised $1.4 Billion from Softbank in May 2017 and has launched new verticals like Paytm Mall and Paytm Payments Bank. Paytm will use the funding to grow its user base, expand its payments bank operations and introduce more financial products. One of India’s leading digital payments company Paytm is also planning to launch a chat messenger to compete with WhatsApp. SoftBank and Alibaba-backed Paytm’s messaging feature will allow people to share text, video and images for free. (Image- Daily Post India)