Paytm Cloud, a wholly-owned subsidiary of One97 Communications, will acquire a 25% stake in Delaware-based Seven Technology for $1 million (equivalent to ₹8.70 crore).
This investment would help in understanding the merchants’ business landscape and opportunities in the Brazilian market.
Seven Technology is the parent company of Dinie Correspondente Bancário e Meios de Pagamento (Dinie), a Brazil-based API-first embedded finance start-up. Dinie enables digital/ e-commerce platforms to provide digital financial services solutions to micro, small and medium-sized enterprises (MSMEs) in Brazil. Post-acquisition, Seven Technology and Dinie will become associate entities of the Paytm Cloud.
