Paytm Money sets up R&D centre in Pune, to hire 250 people


New Delhi: Paytm Money has set up a technology development and innovation centre in Pune, and plans to hire over 250 engineers and data scientists at the facility. The new facility will focus on driving product innovation, specifically for equity, mutual funds, and digital gold, according to a statement on Thursday.

“We are very excited to launch our Pune R&D centre and looking forward to developing new wealth management products and disruptions in Pune. We continue our vision to leverage technology to lower costs for our consumers and provide a solid, innovative and stable platform,” Paytm Money’s Chief Executive Officer Varun Sridhar said. “We believe Pune is poised to become an innovation hub for fintech and was a natural choice for Paytm Money’s expansion plans.”

The company has launched a slew of new products and services aimed at empowering seasoned investors as well as new users. It aims to achieve over 10 million users and 75 million yearly transactions in FY’21 with the majority of users from small cities and towns. To increase awareness around wealth products in the country it plans to educate over a million users about different services through education initiatives.



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