Indian unicorns go hire and higher; Paytm's Swiss roll India’s startup unicorns have a problem, but it’s a good problem to have. Flush with funds in a year of unprecedented investments, and chasing the next level of growth, many of them are in a mad rush to hire the best talent available.Credit: GiphyAlso in this
Concerns over a Chinese slice of ownership are not reason enough to reject Paytm’s insurance venture, provided it follows sectoral rules. The use of money matters far more than its source
2021 has been a record year for insurtech funding. As of Q3 2021, more than US$10.5 billion had been raised by companies in the space year-to-date (YTD), surpassing 2020’s total of US$7.1 billion by nearly 48%, data from insurance advisory firm Willis Towers Watson show.
Madhur Deora, the Chief Financial Officer at Paytm, said the bitcoin is still in a regulatory grey area if not a regulatory ban in India. At the moment Paytm does not do Bitcoin.
ACKO Insurance has entered the elite unicorn club after securing $255 million in a Series D funding round co-led by Multiples Private Equity and General Atlantic.
India: Paytm founder to invest in insurance business from IPO proceeds dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.
The funding round also saw participation from Canada Pension Plan Investment Board, Lightspeed along with existing investors Intact Ventures and Munich Re Ventures.
Digital payments and financial services firm Paytm on Wednesday said Switzerland-based reinsurance major Swiss Re will buy a 23 per cent stake in Paytm Insuretech for about Rs 920 crore. Paytm's insurance unit, Paytm Insuretech (PIT), plans to leverage Paytm's customer base and merchant ecosystem to develop innovative insurance products.