Ratan Tata’s tryst with India’s consumer internet space continues. The Tata Sons chairman emeritus has now thrown his weight behind Paytm.
The 76-year-old has made an undisclosed investment in the mobile payments and commerce platform and will take up an advisory role, marking his fifth investment in the local e-commerce sector.
Including Paytm, Tata has now invested in five home-grown consumer internet companies in the last seven months. He had invested in online marketplace Snapdeal last August, followed by jewellery e-tailer Bluestone in September, online furniture store Urban Ladder in November and auto classifieds portal CarDekho in February.
The veteran had also taken up an advisory role at venture capital firm Kalaari Capital. “I am very happy that Ratan Tata has put faith and trust in our values and mission,” Vijay Shekhar Sharma, founder and CEO of One97 Communications, the parent company of Paytm, said in a statement.