Paytm First Games raises $20 million for expansion

Paytm First Games has raised $20 million from AGTech & One97 Communications Limited (which owns Paytm) for further expansion.

This fund-raise will support the company’s ambition to scale its operations, invest in technology and further expand its user-base through various marketing activities.

Paytm First Games had raised $16 million in the previous round. The company has achieved more than 10 million monthly transactions with an annual revenue run rate of $50 million.

Sudhanshu Gupta, COO - Paytm First Games said in a statement, “In the last six months, we have launched several games across different genres and the response has been encouraging. We now have more than 35 million registered users playing their favorites games including the paid ones like Rummy and Fantasy Cricket.”

The platform offers more than 300 engaging games including the popular ones like fantasy cricket, fantasy kabaddi, fantasy soccer, rummy, battle center for games of skill, 8 ball pool, ludo, and live quiz.