Paytm Money which is a mutual fund investment platform has now secured Rs 28 crore in the fresh funding round from its parent entity One97 Communications, according to the report which has been revealed.
According to the report, Paytm Money had secured Rs 55 crore in November last year and in January 2019, which reveals that its parent entity has now fulfilled its initial commitment into the subsidiary company.
Paytm Money which is based out of Bangalore is a subsidiary of the One97 Communications which is the largest digital payment company of India. The platforms allow the users to invest in the mutual funds with the ‘direct route’ whereby promising its users the higher returns to investors.
In the market, it competes with the Zerodha, ET Money, and some early startup.
Picture Credits: Paytm