Paytm CEO, Vijay Shekhar Sharma, revealed on Saturday, 8th March that one of the company’s first investors, Silicon Valley Bank (SVB), has completely exited with impressive returns on their $1.7 million investment. Sharma clarified that SVB no longer holds any shares in Paytm.
Shortly before the bank’s collapse, Vijay Shekhar Sharma took to Twitter to clarify that SVB, which was one of Paytm’s early investors, had already exited with lucrative returns on their $1.7 million investment and was no longer a shareholder. This came amidst the chaos caused by SVB’s failure, which shook global markets and left billions of dollars in limbo for companies and investors alike.
In a stunning downfall, regulators intervened and seized the bank that had grown fourfold over the last five years.
On Twitter, Sharma expressed gratitude towards Silicon Valley Bank for supporting his company, One97, as one of his first investors, saying, “Silicon Valley Bank was one of my first investors when @AshLilani supported us in the first round of investments at One97. Thanks to him, we grew from a telco VAS company to what we are today.”
Paytm’s Current Stakeholders
Paytm’s major stakeholders include Ant Group from China, holding a nearly 25% stake, and SoftBank Group Corp from Japan, owning approximately 13% of the company.