Sunday, September 26, 2021
HomeBusinessBuffett-Backed Indian Fintech Giant Faces Challenges as IPO Nears

Buffett-Backed Indian Fintech Giant Faces Challenges as IPO Nears

Paytm, a pioneer in cellular funds in India and one of many nation’s best-known startups, set out years in the past to construct an ubiquitous digital-finance ecosystem very like Ant Group Co.’s Alipay in China.

Now, as Paytm’s proprietor nears a $2.2 billion itemizing that may see it beat Ant to the public markets, the corporate isn’t the dominant participant it wanted to become and faces mounting challenges in an more and more crowded Indian funds market. It has already been overtaken in a single key space by deep-pocketed rivals together with Alphabet Inc.’s Google and Walmart Inc. -backed Indian startup PhonePe.

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