India-based digital payments company Paytm is planning an initial public offering worth up to $2.2 billion.
Paytm, whose payments app is used by more than 20 million merchants and businesses, is also considering a pre-IPO round that could raise up to $268 million, according to TechCrunch.
Current investors include Alibaba, Berkshire Hathaway and SoftBank. Paytm intends to use the proceeds from its IPO to broaden its payments services offering, enter into new initiatives and explore acquisition opportunities.
Founded in 2016, Paytm is among the emerging ‘super apps’ that enable users to access a range of financial services, including basic payments, but also banking, wealth management and credit.