The joint venture will further see investments of $8.8 m and $7.2 m contributed by Paytm and AGTech Media respectively as reported by Inc42.
Gamepind's offering includes casual games, contests, as well as sports games and rewards to incentivise customers. Gamepind will also help merchants to market and promote products to mobile shoppers and casual gamers alike.
Paytm founder and chief executive Vijay Shekhar Sharma said: “India’s young consumers are experimenting and discovering more entertainment options on the mobile. Gaming is, therefore, growing in the country and becoming big with mobile users. AGTech’s expertise and experience in global gaming market will help us accelerate our plans in gaming and bring exciting content to our users.”
John Sun, chairman of AGTech said: “We are excited to partner with Paytm to localize this unique platform for its 300 Mn and growing registered customer base by combining Paytm’s local resources and our expertise in gaming and other user engagement activities. A member of Alibaba Group and Ant Financial Group, we have been active in looking for international expansion opportunities capitalising on the vibrant ecosystems of Alibaba Group and Ant Financial Group.”
Paytm recently launched its business app in India which allows merchants and business partners to track payments instantly, navigate through the past collections and track settlements made to their preferred bank accounts.