In a world where folks stood in endless cash queues for basic recharges, Paytm showed up like a knight in shining armor as India’s first real digital wallet that made paying as simple as a quick tap on your phone.
Founded back in 2010 by Vijay Shekhar Sharma, that determined coder from a modest Aligarh home who turned late-night tinkering into big dreams, it brought easy mobile top-ups, handy wallets, and smooth UPI right to everyday people with no bank hassles needed.
In this blog, we’ll dive into the story of Paytm and its founder.
About Paytm
Started in 2010 by Vijay Shekhar Sharma, Paytm or “Pay Through Mobile” has grown under its parent company One97 Communications, based in Noida, into one of India’s leading digital payments and financial services platforms.
Through a single app, users can make UPI transfers, do recharges, pay bills, shop online, and even explore loans and investments. Its QR codes and digital wallet have also empowered small and large businesses to accept payments instantly, without worrying about cash or card machines.
Meet the Founder
Paytm’s journey wouldn’t be what it is today without the vision of its founder. Let’s take a quick gander at the brain behind the brand!
Vijay Shekhar Sharma
Vijay Shekhar Sharma, born in 1978 in Aligarh, Uttar Pradesh, grew up in a modest family with a schoolteacher father and a strong focus on education and hard work. He entered Delhi College of Engineering (now Delhi Technological University) at just 15, where he initially struggled with English but patiently taught himself by reading books in both Hindi and English side by side.
His entrepreneurial journey began early, when he launched indiasite.net during college and later sold it for USD 1 million, giving him both capital and confidence to think bigger.
In 2000, he founded One97 Communications, which started by offering mobile content like ringtones and news. A decade later, in 2010, he launched Paytm as a mobile wallet, making it easy for users to recharge, pay bills, and slowly shift to digital payments.
The platform saw explosive growth after India’s 2016 demonetisation, becoming a familiar name for QR-based payments and everyday transactions, and later expanding into banking and financial services.
He has been featured on Forbes’ richest entrepreneurs list, and is also recognised as a UN Environment “Patron for Clean Air”.
All You Can Do With Paytm
Paytm’s service portfolio has transformed into a full-fledged financial super app that serves both consumers and businesses. On the consumer side, the Paytm app enables everyday digital payments through UPI, QR, Paytm Wallet, and quick mobile, DTH, utility bill payments and recharges, while also offering commerce use cases like booking movie, flight, bus, and train tickets, along with travel and gaming options.
Layered on top of this are financial services such as Paytm Postpaid (Buy Now Pay Later), personal loans, insurance, and wealth management, with Paytm Money providing access to stocks, mutual funds, ETFs, F&O, IPOs, demat accounts, portfolio tracking, and financial calculators.
For merchants and enterprises, Paytm offers payment solutions like payment gateway integration for websites and apps, QR codes, payment links, Soundbox, subscription billing, and international payments, supported by marketing tools, loyalty programs, deals, and gift vouchers, plus software and cloud solutions for larger telecom and digital players.
Paytm’s Funding Journey
Paytm has raised a total of USD 3.15 billion across 16 funding rounds, starting with its first round on February 15, 2006. The latest was an angel round on November 20, 2020, bringing in USD 1.26 million led by Mark Schwartz.
The company boasts 72 institutional investors, including heavyweights like Alibaba, Alibaba Group, Ant Group, and SoftBank Vision Fund as the largest backer. Mark Schwartz and 12 other angels have also chipped in.
Breaking Down Paytm’s IPO
Paytm’s IPO, launched by its parent One97 Communications, opened for bidding from November 8th to 10th, 2021, and listed on the BSE and NSE on November 18th, 2021.
Priced in the band of INR 2,080 to INR 2,150 per share, it marked India’s largest-ever public offer at INR 18,300 crores.
The issue included a fresh issuance of equity shares worth up to INR 8,300 crores alongside an offer for sale of up to INR 10,000 crores from existing shareholders.
Afterword
Paytm’s journey from a scrappy recharge app to India’s fintech powerhouse shows the power of bold vision. Vijay Shekhar Sharma continues shaping a cashless future and inspiring every dreamer ready to disrupt the everyday!