Warren Buffett's Berkshire picks up stake in Paytm

Bengaluru: Berkshire Hathaway Inc is set to acquire around three to four per cent stake in One97 Communications Ltd, the company behind India's largest digital payments brand Paytm. Investment from Berkshire will value the company at more than US$ 10 billion, as per people involved in the deal. Mr Warren Buffet, Chairman, Berkshire Hathaway Inc is not involved directly in this investment as per his assistant Ms Debbie Bosanek. Other existing investors in the company include Softbank Group Corp, Alibaba Group Holding Ltd and Ant Financial. The start-up was founded by Mr Vijay Shekhar Sharma and was a pioneer in India's digital payments industry. This industry is now expected to reach US$ 1 trillion from the current US$ 200 billion, as per Credit Suisse Group AG. Besides the Paytm wallet, One97 also operates Paytm Payments Bank and Paytm Mall.

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