Meet the youngest Indian Billionaire
Vijay Shekhar Sharma, founder of Paytm, is the youngest Indian billionaire. At the age of 39, he owns $1.7 billion net worth with his innovative idea of digital cashless transaction through mobile app.
Paytm gradually gained its reach and popularity, after the Union Ministry’s announcement of demonetisation with Rs 1000 and Rs 500 notes leaving a chaos in emergency transactions among the citizens.
Paytm used the simple solution of QR code to transact money between the seller and the buyer, that doesn’t even require a physical device like that of a swipe machine.
In a period of 6 months Paytm reached on another level, with 7 million transactions daily, that further expanded the company to host over 13,000 employees including 3 million offline dealers.
The digital payment application now has expanded to other platforms namely Paytm Mall, Paytm Bank, and Paytm Wallet besides launching its service in Canada. Vijay Shekhar Sharma owns about 16 per cent of Paytm that has a monetary value of over $9.4 billion, according to Forbes.