🔺 Paytm sells PayPay stake to SoftBank for $279.2 million Paytm has agreed to sell its stake in the Japanese payments firm PayPay to SoftBank for $279.2 million, part of its strategy to divest non-core assets following a difficult regulatory period earlier this year. This stake, acquired six years ago, comes after Paytm's restructuring efforts, which included selling its entertainment ticketing unit to Zomato for $246 million in August. The sale will increase Paytm's cash reserves to $1.46 billion as it seeks to regain market share in India's competitive payments landscape, especially after regulatory restrictions in January led to a loss of customers. Since June, Paytm's shares have nearly tripled after the payments regulator allowed the company to resume customer additions to its UPI service. Paytm reported its first quarterly profit in September, largely due to asset sales. In a statement, Paytm expressed gratitude to SoftBank and the PayPay team for their partnership in Japan, indicating a commitment to supporting PayPay's technology and product innovations moving forward. This deal also marks the conclusion of Paytm's relationship with SoftBank, which had previously divested its remaining shares in June after being an early investor through its Vision Fund. 💬 Source 📌 Powered by V3V Ventures