AGTech in JV with Paytm for Indian market

Hong Kong-listed and AliBaba-owned AGTech Holdings has partnered Indias largest mobile-first financial services platform Paytm in a joint venture for the launch of mobile games platform Gamepind.

AGTech holds a 45 percent stake in the joint venture while Paytm owns a 55 percent stake.

Gamepind offers a host of casual games, contests and sports games accessible via an independent application and the Paytm app.

AGTech said the launch represents the its first major initiative in expanding its footprint in the Indian sub-continent since becoming a member of the Alibaba Group.

John Sun, Chairman and Chief Executive of AGTech said:

We are excited to partner with Paytm to localize this unique platform for its 300 million and growing registered customer base by combining Paytms local resources and our expertise in gaming and other user engagement activities.

Vijay Shekhar Sharma, Founder and CEO of Paytm added:

India’s young consumers are experimenting and discovering more entertainment options on the mobile. Gaming is therefore growing in the country and becoming big with mobile users. We are happy to partner with AGTech to build an incredible gaming destination.

AGTech’s expertise and experience in global gaming market will help us accelerate our plans in gaming and bring exciting content to our users.