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.