Paytm First Games to receive $25 million funding: Report

Alibaba Group and One97 Communications Limited backed Paytm First Games (earlier known as Gamepind) is reportedly in talks to raise US$25 million in a fresh funding round that will be led by venture capital firm SAIF partners and an unknown Hong Kong based entity.

In May this year, the Paytm and Alibaba had tly infused $16 million in the gaming company.

When Sudhanshu Gupta, Chief Operating Officer (COO) of Paytm First Games was ed by Times of India for a confirmation of the above news, he declined to confirm the development.

Gupta however noted that Paytm First Games has grown manifold in the last one year and has garnered over 30 million ed s. He noted that on an average s spend around Rs. 4,000 per month on the game of rummy and Rs. 400 per month on fantasy sports.

He also stated that the company is clocking around US$ 50 million in revenue, with the focus in the near future being on investing in its technology and hosting e-sports events.Gupta stated that Gamepind is looking to double its team size from the current number of 150.

Paytm First Games offers skill games such as rummy, fantasy sports as well as casual games such as ludo, snake wars, badlands, 8 ball pool, trivia and live quiz on its platform as well as on the Paytm app.