Paytm Expects No Need for Near-Future Funding Thanks to Strong Free Cash Flow, Says CFO Madhur Deora

Mobile payments company Paytm has announced that it will not require additional funding in the near future, citing a robust cash balance of Rs 8,300 crore and confidence in achieving sustainability through free cash flow.

During the company's annual general meeting, Madhur Deora, Executive Director, President, and Group Chief Financial Officer, assured shareholders that Paytm is in a healthy financial position with zero debt and does not foresee the need for funding in the near term.

CEO Vijay Shekhar Sharma highlighted Paytm's commitment to understanding the needs of Indian merchants and consumers through recent innovations, such as the introduction of various Soundbox devices. These devices are part of Paytm's efforts to bring technology to small shops across India, fostering inclusive growth and job creation in the country.

Paytm has also launched a simplified version of a full-fledged Point of Sale (POS) device capable of accepting payments through both the Unified Payment Interface (UPI) and credit cards, aiming to serve businesses of all sizes in India.

Bhavesh Gupta, President and Chief Operating Officer, emphasized India's ongoing growth in digital payments and Paytm's focus on catering to businesses, ranging from the smallest shops to the largest enterprises.

Additionally, Paytm is investing in artificial intelligence (AI) to enhance efficiency and security within its payments platform. Vijay Shekhar Sharma mentioned that the company is working on an Artificial General Intelligence (AGI) software stack, which will help lower costs, expand reach, and further secure the financial system.