Paytm Cloud Floats New Subsidiary In UAE, Infuses $2.1 Mn

Paytm Cloud’s board approved a subscription amount of AED 8 Mn for the acquisition of 80,000 equity shares in the newly-floated subsidiary, Paytm Arab Payments LLC

The new subsidiary will work towards expansion and distribution of Paytm’s technology-led merchant payments and financial services stack in the UAE

This comes three months after Paytm said that Paytm Cloud would set up wholly owned subsidiaries in the UAE, Saudi Arabia and Singapore

Fintech major Paytm’s arm Paytm Cloud Technologies Ltd (PCTL) has…