Paytm Money Plans to Hire 250 Engineers for its Technology Development & Innovation Centre in Pune

A new technology development and innovation centre has been set up by Paytm Money in Pune, for which the company is planning to hire over 250 engineers and data scientists. The facility aims to drive focus on product innovation, specifically for equity, mutual funds, and digital gold. 

What is Paytm Money?

Paytm Money Ltd. is a SEBI registered Investment Adviser (IA) that provides advisory and investment execution related services. The simplified user experience provided by the company allows investors to start the investment journey with no paperwork, digital KYC, automated payments, and informed investment decisions. 

Paytm Money Recent Launches

Paytm Money recently launched new products and services that aim to empower seasoned investors along with the new users. One of such products is IPO investments, which enables retail investors to invest in initial Public Offers (IPOs) in India.

What is the aim of Paytm Money?

Paytm Money aims to achieve over 10 million users and 75 million yearly transactions in the fiscal year 2021 with the majority of users hailing from small cities and towns. It plans to educate over a million users about different services through education initiatives in order to increase awareness around wealth products in the country.

The company’s online platform provides a range of services such as mutual funds, stockbroking as well as wealth management.

Paytm Money's Chief Executive Officer Varun Sridhar said that "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, we believe Pune is poised to become an innovation hub for fintech and was a natural choice for Paytm Money's expansion plans".

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