Paytm ties up with startup for PMS foray
Paytm founder Vijay Shekar Sharma is going to start a Portfolio Management Scheme (PMS) in an alliance with PMS Bazaar, a Mumbai-based start-up that would devise investment strategies. The primary focus will be on equities, with 95 per cent of the funds invested in large, mid PMS Bazaar will ensure serve the wealthy customers with the selection of the right PMS strategy based on individual risk appetite and investments. If an investor raises a request for PMS on Paytm Money, an expert from PMS Bazaar will connect with the user and start a discussion. When they reach a consensus on the strategy, a plan will be sent to the investor.
The Fee income generating out of the business proposition should add to the revenues of Paytm Money.
“At Paytm Money, we have leveraged technology to make investing & trading efficient and transparent,” said Varun Sridhar, CEO, Paytm Money. “Extending the same to HNI investors, we have partnered PMS Bazaar to launch PMS Marketplace, offering a one-stop shop.”