India, Feb. 3 -- Paytm's arm Paytm Cloud Technologies Limited (PCTL) is set to acquire a 25% stake in Delaware-based fintech startup Seven Technology LLC for $1 Mn (around INR 8.7 Cr).

In a regulatory filing, One97 Communications said that the board of its wholly-owned subsidiary, PCTL, at its meeting held on February 3, approved an investment of $1 Mn in Seven Technology LLC for acquisition of 25% stake and execution of transaction documents.

Seven Technology is the parent of Brazil-based fintech platform Dinie Correspondente Bancario e Meios de Pagamento Ltda's parent, that offers digital financial services to micro, small and medium-sized enterprises (MSMEs) in Brazil.

Following the acquisition announcement, shares of Paytm parent O...