TestCloud
Prep • Practice • Perform
Log In

PCTL Acquires 25% Stake in Seven Technology LLC for $1 Million.

Economy Business | Dated: 20 Feb 2025

In February 2025, Noida (Uttar Pradesh, UP)-based Paytm Cloud Technologies Limited (PCTL), a subsidiary of Paytm, acquired a 25% stake in Delaware (United States of America, USA)-based Seven Technology LLC for USD 1 million (Rs. 8.70 crore).

🎯 Key Highlights:

  • - This acquisition aligns with Paytm's strategy to expand its merchant payments and financial services model internationally, particularly in emerging markets with significant fintech potential.

💡 Other Important Facts:

  • (i) Seven Technology LLC is the parent company of Dinie Correspondente Bancario e Meios de Pagamento (Dinie) in Brazil, which is the first embedded finance start-up offering Application Programming Interface (API)-based solutions.
  • (ii) The acquisition is expected to be completed within 45 days, after which Seven Technology and Dinie will become associate entities of Paytm.
  • (iii) In December 2024, Paytm's parent company, One97 Communications Singapore Private Limited (Paytm Singapore), agreed to sell its Stock Acquisition Rights (SARS) in Japan's PayPay Corporation to SoftBank Vision Fund 2 for Japanese Yen (JPY) 41.9 billion (around Rs 2,364 crore).

📚 Test Your Knowledge:

Which company recently acquired a 25% stake in Seven Technology LLC for USD 1 million?

Correct Answer: Paytm Cloud Technologies Limited (PCTL)

🚀 Quick Recap: