Swiss Re to invest Rs 920 crore in Paytm’s insurance unit
By
Biju Kumar
Bengaluru: IPO-bound Paytm said on Wednesday that Zurich-based reinsurance giant Swiss Re will invest Rs 920 crore in its insurance unit, Paytm Insuretech Pvt Ltd, for a 23% stake.
Swiss Re will invest around Rs 397 crore upfront and the remaining capital will come in tranches, subject to fulfilment of certain milestones by Paytm Insuretech. The deal is subject to regulatory approval.