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Fintech Platform Paymi said on Thursday that it would invest Rs 200 crore in Uttar Pradesh, which would create 2,000 jobs in the region. Along with this, the company will focus on training and development of skilled resources in the fintech space. The company signed a memorandum of understanding (MoU) with the state government in the presence of Shailendra Bhatia, OSD, YIDA and Manav Munjal, director, PEMI, and Vishal Ranjan, VP, HR, nodal officer for UP Investors Summit.
New opportunities will open for the youth
The fintech company said that this investment will contribute to the growth and development of the fintech sector in Uttar Pradesh, thereby creating new opportunities for the local workforce. Shukla said, Paymi is growing at a tremendous pace, with a six-fold increase in the workforce in the last one year, and we expect to create 5,000 jobs in the next 5 years. Established in 2016, Noida based Paymi offers a comprehensive pool of financial services to individuals and corporates. With seed capital of $2 million, the company was rated among the top 30 emerging fintech start-ups by leading startup news portal Inc42.
2000 youth will get employment
Mahesh Shukla, Founder & CEO, Paymi said, “I come from Gorakhpur, a Tier 2 district, where access to quality education and job opportunities were rare. Now that we have the means to give back to the society, it is our duty to be a part of the UP Investors Summit initiative. With an investment of 200 crores from our company, 2000 jobs will be created in the field of fintech. The company will prove to be successful in increasing the pace of job creation. Compared to previous years, the increase will be about six times more. The company estimates that five thousand jobs will be created in the next five years. He said that Uttar Pradesh is a shining state in the category of ease of doing business. Mahesh Shukla said, “We are thrilled about this investment and look forward to getting started soon. He said Paymi is the first fintech company which is investing in the state through the Uttar Pradesh Investor Summit. The company will make significant contribution to the growing economy of the state. With the said investment, there will be progress and development in the fintech sector in the state. This will provide employment opportunities to the regional youth.
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