Fintech Firm PayMe Inks MoU with Uttar Pradesh Govt, to Invest 200 Cr and Create 2000 Jobs
Shailendra Bhatia, OSD YEIDA Nodal officer for UP Investors summit. Mr. Manav Munjal, Director of PayMe, and VP of HR Mr. Vishal Ranjan were present from PayMe side

One of the fastest growing fintech players in the country, PayMe, has achieved another milestone, this time by signing a Memorandum of Understanding (MoU) with the Uttar Pradesh government. According to the MoU, PayMe will be investing Rs 200 crore in the Yamuna Authority. The investment will create 2000 jobs in the area, focusing on training and developing skilled resources.

The MoU was signed on 8 February 2023 at the Yamuna Authority office. During the signing, Shailendra Bhatia, OSD YEIDA Nodal officer for UP Investors Summit represented the UP government and Manav Munjal, Director of PayMe and VP of HR Vishal Ranjan were present from PayMe side.

Fintech Firm PayMe Inks MoU with Uttar Pradesh Govt, to Invest 200 Cr and Create 2000 Jobs
Shailendra Bhatia, OSD YEIDA Nodal officer for UP Investors summit. Manav Munjal, Director of PayMe, and VP of HR Vishal Ranjan were present from PayMe side

Speaking of his personal connection to Uttar Pradesh and the significance of the investment, Mahesh Shukla, Founder and CEO of PayMe said, “I come from Gorakhpur, a tier II district of Uttar Pradesh, 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 Uttar Pradesh Investor Summit initiative. We aim to be a part of the growth and development journey of Uttar Pradesh.”

Our investment of 200 crores will result in the creation of 2000 jobs in the fintech sector. 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 5000 employment opportunities in the next 5 years. Uttar Pradesh is a shining example of ease of doing business. We are thrilled about this investment and eagerly look forward to the start of this exciting initiative,” added Mr Shukla.

PayMe is the first fintech company to invest in the Uttar Pradesh Investor Summit, marking a major milestone for the state and its economy. The investment will contribute to the growth and development of the fintech sector in Uttar Pradesh, providing new opportunities for the local workforce.

About PayMe

Founded in 2016, Noida-based PayMe India is the country’s promising new FinTech establishment, offering a pool of comprehensive financial services for individuals and corporates. The company is the brainchild of Mahesh Shukla and Sandeep Singh – two prominent bankers and financial wizards with credible collaborative experience. With a seed capital of USD 2 million, the company was rated among the top 30 emerging FinTech start-ups by INC 42. With a strong focus on technology and innovation, PayMe has established itself as a leader in the fintech industry.
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