Buffett`s Berkshire Hathaway to invest USD 300 mln in Patym

Tuesday 28 August 2018 14:11 CET | News

Warren Buffett`s Berkshire Hathaway has revealed its plans to invest around USD 300 million in the India-based payments group, Paytm.

The action would represent Buffett’s biggest investment in India and it all happens as he grows comfortable with new technology and payments companies through Berkshire’s holdings in Visa and Apple.

Paytm has caught the attention of investors in Asia, taking in funds from Alibaba and SoftBank. The company offers several services, including mobile and bill payments, and has recently launched an online marketplace.

The payments group is one of India’s most important startups, being valued at USD 10 billion in 2017.

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Keywords: Berkshire Hathaway, Paytm, investment, online marketplace, India, mobile payments, bill payments, startup
Countries: World