By ET Bureau - July 06, 2020 1 Mins Read
Paytm, the Indian financial technology company, has recently announced that it will acquire
Raheja QBE, the insurance firm. The acquisition will be for a valuation of $76 million, and the company is looking to step into the booming insurance market.
Paytm CEO Vijay Shekhar Sharma stated that it is acquiring Raheja QBE via QorQl Pvt. Ltd, a company where he owns the majority stake with Paytm. The company expects to democratize the insurance serves in the country with a focus on creating a multi-channel general insurance company with tech-based innovative products.
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