2009: August: Paytm was founded by August: Paytm is founded by Vijay Shekhar Sharma with an initial investment of $2 million. Prepaid mobile and DTH recharge platform.
2010: Raised $5 million in February 2010 from Mayfield Fund.
2011: Raised $20 million in April 2011 from SAIF Partners, Nexus Venture Partners, and Chengwei Capital. (valuation estimated around $50 million). Expansion into debit card, postpaid mobile, and landline bill payments
2014: Raised $48 million in May 2014 from Tiger Global Management, Actis Capital, and SAIF Partners. (valuation around $200 million)
Raised $130 million in September 2014 from Alibaba Group and SAIF Partners. (valuation around $1.2 billion)
Launched Launch of the Paytm Wallet, making Paytm a major player in digital payments.
Partnerships with Indian Railways and Uber.
Entry into e-commerce with online deals and bus ticketing.
Mid 2014: Paytm valuation stood around $250 million
2015: March: Paytm Receives RBI's In-Principal Approval for Payment Bank License In a significant move, Paytm receives preliminary approval from the Reserve Bank of India (RBI) for a payment bank license, setting the stage for its foray into banking services. After receiving licence, they attract a significant investment of $246 million from Alibaba & SAIF Partners in May, the valuation jumped to $1.5 Billion. (valuation around $2.6 billion)
2016: Acquires mobile commerce platform ShopClues. Raises additional funding of $680 million from SoftBank Group, SAIF Partners and Discovery Capital. (valuation around $7 billion)
2017: Paytm Payment Bank Commences Bank Operations With the formal launch of its banking operations, Paytm becomes one of the leading players in the Indian digital payment ecosystem.
2017: March: Raised $300 million from SoftBank Group, SAIF Partners, and Discovery Capital. (valuation around $8 billion)
2017: June: Raised $1.4 billion from SoftBank Vision Fund, SAIF Partners, and Discovery Capital. (valuation around $10 billion)
2018: RBI Bans Onboarding of New Users for Accounts and Wallets A setback for Paytm as RBI imposes restrictions, prohibiting the onboarding of new users for accounts and wallets, citing regulatory concerns.
2018: May: Raised $300 million from T Rowe Price, SAIF Partners, and Discovery Capital. (valuation remained around $10 billion)
2019: Ban is Lifted After a period of restrictions, the ban on onboarding new users is lifted, allowing Paytm to resume its growth trajectory.
2019: November: Raised $1 billion from T Rowe Price, Ant Financial, and SoftBank Vision Fund. (valuation around $16 billion)
2020: Becomes India's largest digital payments platform by transaction volume. Launches new initiatives like Paytm Mall, Paytm First Games, and Paytm Money.
2020: November: Raised $1.26 million from Mark Schwartz. (angel round)
2021: Included in the List of Scheduled Banks Paytm achieves a significant milestone by being included in the list of scheduled banks, further solidifying its position in the financial sector. Public offering (IPO) raises $2.46 billion (₹18,300 crore, 2150 per share) at a valuation of $20 billion, but stock price falls significantly.
2022: March: RBI Directs Comprehensive IT Systems Audit RBI directs Paytm to halt onboarding new customers and undergo a thorough IT systems audit, signalling concerns about the company's technology infrastructure.
2022: September: Enforcement Directorate Raids Paytm's Bengaluru Premises In a legal twist, the Enforcement Directorate conducts raids on Paytm's Bengaluru premises in connection with an illegal Chinese lending apps case, adding legal challenges to the company's woes.
2022: October: Paytm Payments Bank Receives Final Report of RBI-Appointed Auditor The RBI-appointed external systems auditor submits the final report for Paytm Payments Bank, possibly shedding light on the company's adherence to regulatory requirements.
2022: November: RBI Rejects Paytm Payment Service's Payment Aggregator License Application RBI deals a blow to Paytm by rejecting its payment aggregator license application, further complicating the company's regulatory landscape.
2023: RBI Imposes ₹5.4 Crore Penalty for KYC Noncompliance Facing repercussions for noncompliance, RBI imposes a hefty ₹5.4 crore penalty on Paytm Payments Bank for failing to adhere to Know Your Customer (KYC) norms.
2023: October: NHAI Bans Paytm Payments Bank from Selling Fastags. The National Highway Authority of India (NHAI) bans Paytm Payments Bank from selling Fastags, impacting its operations in the digital toll payment space.
2024: January: RBI Directs Termination of Nodal Accounts, Effectively Halting Operations In a decisive move, RBI directs Paytm Payments Bank to terminate nodal accounts by February 29, 2024, effectively bringing an end to its operations in a notable fall from grace.
Overall, the Paytm has raised a total of $4.1 billion in funding over 15 rounds and $2.46 billion through public offering (IPO).
Today as of February 6, 2024 the valuation of Paytm hovering around $3-4 billion (₹438.5 per share) and still losing its valuations due to negligence in compliance.
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