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Paytm goes global with expansion plans in Singapore and South East Asian markets

Appoints Milaap founder Sourabh Sharma to establish their presence in these geographies

Sourabh SharmaNew Delhi, December 19, 2014Paytm, India’s largest mobile commerce platform announced its plans to expand into Singapore and other South-East-Asian markets. After having sealed its position as the no.1 payments solution provider and marketplace in India, Paytm is now gearing up for its next stage of growth in international markets. To establish its presence in these geographies, the company has announced the appointment of Milaap founder, Sourabh Sharma.

Paytm intends to bring to South-asian markets their app driven convenience of paying for utility bills in the first phase, and will cater primarily to areas such as bill payments, transportation, parking, metros etc. With this expansion, the company further plans to tap other South East Asian markets of Indonesia, Thailand and Malaysia.

Sourabh Sharma, the Singapore-based entrepreneur has incubated and led the growth of multiple tech-based companies. He will be driving the South East Asia operations and tapping the smartphone savvy population in the region to employ Paytm’s varied utility payment solutions.

Sourabh has consistently demonstrated passion for technology-based social impact business models. Prior to joining Paytm, he founded Milaap Social Ventures (www.milaap.org), Asia’s leading fundraising platform that changed the way people fund and impact communities. He managed investor relations, strategic partnerships and user acquisitions. In addition, Sourabh successfully raised multiple rounds of funding for the company and built a talented team of over 20 people spread across India, US and Singapore.

Vijay Shekhar Sharma, CEO, Paytm said, “Paytm is committed to growing its presence in global markets through a route of partnerships and grounds-up built company across regions. We are happy to have a seasoned entrepreneur in Sourabh leading this charge out of his Singapore base for South East Asia.”

Sourabh Sharma commented on the appointment saying, “We are excited on the opportunity of providing consumers with a great payment solutions on mobile. Most people still resort to traditional ways of bill payments such as bank transfers, kiosks and physical outlets of the service provider. I am extremely excited to be a part of Paytm’s growth in this area. With a powerful product and a well-thought out strategy, I am certain that we can establish a firm foothold for Paytm in Singapore and other South East Asian geographies in the near future.”

South East Asia offers a great opportunity for payments on-the-go via the Paytm Mobile App for recurring bills such as telecom, power, broadband, seasonal parking as well as for pre-paid card services. After its successful establishment as a leader in the payment and mobile wallet space in India, South East Asia is now a focus area for the company. With key appointments in its leadership ranks, it aims to swiftly consolidate its business in these geographies.

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