Paytm, which has high-profile investors like SoftBank and Alibaba, has drawn up a massive investment plan of Rs 20,000 crore as the group expands its play into the digital payments, financial services and e- commerce space in the country. “In the last 2 years and the next three years, we would have invested Rs 18,000-20,000 crore. I don't want to talk about profitability right now because we are still in an investment phase,” Paytm founder and CEO Vijay Shekhar Sharma told reporters.
He was speaking on the sidelines of the official launch of Paytm Payments Bank operations. Paytm -which offers a mobile wallet, recharge, bill payment services, e-commerce (Paytm Mall) and ticketing services -- saw a massive growth in its business after the Govt’s note ban drive in November last year. Paytm has 28 crore registered users, of which 18 million use Paytm wallet service.