Paytm founder bets on young wealth to hit profit sooner

Paytm plans to revamp its online wealth management services and hire more than 15,000 contract salespeople to get more merchants on its network, aiming to hit profitability sooner than targeted.

Billionaire founder-CEO Vijay Shekhar Sharma is overhauling its suite of money management products to better tap growing wealth among younger users, who’re warmer to the idea of investing online. At the same time, it’s orchestrating a campaign to boost its salesforce to 50,000-plus people next fiscal year to try and sign up more merchants across smaller Indian cities and towns.