Fintech platform PayMe on Thursday said it will invest Rs 200 crore in Uttar Pradesh to create 2,000 jobs in the area, focusing on training and developing 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 YEIDA and Nodal officer for UP Investors Summit and Manav Munjal, Director of PayMe and Vishal Ranjan, VP of HR.
“I come from Gorakhpur, a tier II district, where obtaining a quality education and getting job opportunities were scarce. Now that we have the means to give back to society, it is our duty to be a part of the UP Investor Summit initiative,” said Mahesh Shukla, Founder and CEO of PayMe.
The investment will contribute to the growth and development of the fintech sector in Uttar Pradesh, providing new opportunities for the local workforce, said the fintech company.
“PayMe has been growing at a tremendous pace, having expanded six times in terms of employee count in the past year, and we anticipate generating 5,000 employment opportunities in the next 5 years,” said Shukla.
Founded in 2016, Noida-based PayMe offers a pool of comprehensive financial services for individuals and corporates.
With a seed capital of $2 million, the company was rated among the top 30 emerging FinTech start-ups by leading startup news portal Inc42.