If you are a regular user of the cash wallet, you must have heard of Paytm even if not used its services. Speaking of how Paytm has become one of the most convenient modes of mobile wallet payment today, it’s imperative to read about its founder, Mr Vijay Shekhar Sharma. Born in Aligarh, Uttar Pradesh, Sharma had a humble upbringing. His father was a school teacher and Vijay Shekhar himself is a first-generation engineer and entrepreneur. He worked in the US and around 1998-99 returned to India to start his enterprise.
Vijay Shekhar Sharma Net Worth 2019
As on date, Sharma’s current net worth is assessed to be $2.4 Billion.
As a founder of the largest mobile Paytm network, he successfully created the Paytm Mall along with the e-commerce business from the brand and the swift and convenient Payments Bank, Paytm. His dreams got their wings when in August 2018 his business received $300 million from the “Warren Buffet’s Berkshire Hathaway”. Also, Paytm is one of the first Indian companies to have received funding from the international internet giant ‘Alibaba’ and many other prominent players in the market.
Research indicates that Paytm was one of the top beneficiaries in the demonetization period in India. Today, there are around 400 Million Paytm users across the network contributing to 20 Million transactions per day. Vijay Shekhar made it to the Forbes list of billionaires and is among the under 40 list of entrepreneurs to have featured on that prestigious list. His “Payment through Mobile” setup has an employee base of nearly 13K and offline merchants that can be estimated to be around 3M.
Vijay Shekhar Sharma Biography
|Full Name||Vijay Shekhar Sharma|
|Birth Date||8th July 1978|
|Birth Place||Aligarh, India|
|Height||1.70 m (5 ft 7 in)|
|Father||Sulom Prakash Sharma|
|Brother||Ajay Shekhar Sharma|
Paytm’s Evolution and Rise
Paytm started as an e-commerce platform that facilitated digital payments and also enabled recharge. With a massive response from customers, the brand ventured into varied platforms giving birth to the Paytm Mall, the Bank by the brand name and the Paytm Wallet as well. Paytm, today has emerged as a one-stop mobile destination where you can shop, recharge as well as get your payments billed and make digital payments.
SkyRocket after Demonetization
The fast-growing company experienced its best when the ruling government announced demonetization thereby banning old currency notes of the higher denomination in 2016. It was around that time when people faced challenges making payments cash payments owing to a crunch in the new currency notes that Paytm shot to fame. The simple and convenient solution enabled on the Paytm platform was a sigh of relief for many traders and customers. The niche connected businesses and people enhancing the pace of transactions through their smartphones. The survey shows that Paytm made almost INR 120 Crore each day through its digital network niche and other payment services in that phase. With its popularization, several other mobile wallets also started expanding fast, but Paytm was already ahead of most other initiatives. In 2017, Sharma launched the Paytm services in Canada adding a feather to the company’s cap.
With its cutting edge technology, while Paytm has been expanding, Sharma real-time net worth is escalating in rocket speed.