Berkshire Hathaway invests in Paytm

One97 Communications Limited that owns the brand Paytm, India’s largest digital financial services company today announced that Berkshire Hathaway, a Corporation headquartered in Omaha, Nebraska, United States, has invested an undisclosed amount in the company.

Berkshire joins Ant Financial, SoftBank, Alibaba and SAIF Partners as key shareholders in Paytm. Todd Combs, investment manager at Berkshire Hathaway, has joined the board of directors of Paytm, that also includes Mrs. Pallavi Shroff and Mr. Mark Schwartz as independent directors. 

Paytm Founder & CEO Vijay Shekhar Sharma said, “We feel both excited and humbled by this endorsement.  Berkshire’s experience in financial services, and long-term investment horizon, is going to be a huge advantage in Paytm’s journey of bringing 500 million Indians to the mainstream economy through financial inclusion It is my honour to welcome Todd to our board, where he will bring his wealth of experience to guide our management team.”  

Todd Combs, Investment Manager, Berkshire Hathaway said, “I have been impressed by Paytm and am excited about being a part of its growth story, as it looks to transform payments and financial services in India.”