Warren Buffett wants a stake in India’s leading mobile payments company Paytm.
Berkshire Hathaway could invest around 25 billion rupees ($360 million) - a deal that would potentially value Paytm at around $10 billion, a source familiar with the deal told CNNMoney on Monday. This is not the first time a U.S.-based firm is taking interest in India’s digital wallet market: last year, Google launched its mobile payment app Tez while Facebook-owned WhatsApp is reportedly exploring a similar platform.
Paytm has more than 300 million users, and is milking a fast growing demand for digital payments in India.