Microsoft May Be Planning to Invest in Paytm

Microsoft Paytm

If reports are to be believed, the next mega deal in the country could soon be happening between tech behemoth Microsoft and India’s leading fintech giant Paytm.

According to media reports, Microsoft is looking to invest some money in India’s payment sector through a potential investment in Paytm. According to a report, Paytm is looking to add an extended $100 million to its series-G round worth $1 billion. This was announced by the company last year.

According to the report, the talks with Microsoft began in 2019 when Paytm was in the middle of raising funds. However, Microsoft was unable to participate in the round of funding, but is very interested in doing so now.

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Paytm, has however, refused to comment, and dismissed the reports as speculations.

If true, the deal will come closely on the heels of the much-discussed Facebook and Jio partnership, where the former invested $5.7 billion in the Indian mobile carrier to bring small businesses online. In fact, just last year, Reliance Jio had also signed a deal with the Seattle-based company to use the Azure cloud platform to develop solutions for large enterprises. Moreover, it also agreed to use Microsoft’s cognitive language services for its device ecosystem.

According to a report published by Assocham-PWC, India’s digital payments industry will see a surge to $135.2 billion by 2023, which makes this deal sweeter for Microsoft in the long run.