New Delhi, 9th February, 2023 : PayMe, one of the fastest growing fintech players in India, has reached a new milestone by signing a Memorandum of Understanding (MoU) with the Uttar Pradesh government. As per the MoU, PayMe will invest INR 200 crore in the Yamuna Authority, which is expected to create 2000 jobs and emphasize on training and developing skilled resources.
The MoU was signed on February 8, 2023, at the Yamuna Authority office. Representing the UP government was Shailendra Bhatia, OSD YEIDA Nodal Officer for UP Investors Summit, while Manav Munjal, Director of PayMe, and VP of HR Vishal Ranjan were present from the 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 has made history as the first fintech company to invest in the Uttar Pradesh Investor Summit, signifying a significant achievement for the state and its economy. This investment will fuel the growth of the fintech industry in Uttar Pradesh, creating new job prospects for the local workforce.