Paytm looking to hire 50,000 more salespeople to hit profit sooner

Paytm plans to revamp its online wealth management services and hire more than 50,000 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 more than 60% to try and sign up more merchants across smaller Indian cities and towns.